Elon Musk addresses Model 3 at Tesla shareholders meeting

07 June, 2018, 06:30 | Author: Brooke Harris
  • Second Measure Second Measure

When asked if his choice of clothing, a leather biker jacket, meant the firm was considering an electric motorcycle he admitted to the near-death experience. "I do think I have an issue with time", Musk replied.

"I actually used to ride motorcycles when I was a kid, dirt-biking for like eight years or something".

"I'd probably put some sandbag on future dates; that's probably wise", Musk said.

This isn't the first time the company has released an Autopilot trial. Tesla's 2017 injury rate at its assembly plant in Fremont, California, was equivalent to the most recently published industry average, the company said in a February blog post. Pictured, Valentino Rossi on a Ducati road bike. That had represented the strongest challenge yet to Musk's grip on the Silicon Valley electric vehicle maker, which also faces production setbacks and expectations by many analysts that it will need to raise new cash. That will go into production in the first half of 2020, along with the Semi truck and Roadster models, Musk said.

Investors have appeared to be shaken by Musk's antics in recent months.

Not one to pause and take stock, Elon Musk is already teasing what comes next, and therefore we've got a new concept image of the Model Y to look at. "I'm trying to recalibrate as much as possible".

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There are a lot of qualifiers in that sentence, but the Model 3 has seen a lot of interest as the most affordable electric auto from the automaker, even as Tesla struggles to try and ship at the same rate it is selling, and Jaguar's rival I-PACE electric vehicle sees growing interest.

The Model Y is expected to be a scaled-down Model X riding atop the Model 3's platform, complete with falcon doors and all, according to reports. Musk himself owns more than 20% of outstanding shares and institutional investors own another 61%, concentrated mostly in the hands of five large money managers - T Rowe Price, Fidelity, Baillie Gifford, Vanguard and Blackrock.

In April, Tesla said it was making 2,270 vehicles a week.

But the company added that "production bottlenecks" had left it behind on its planned ramp-up for the Model 3. It now looks as though 5,000 per week is going to be achieved before the end of June.

Tesla released the first teaser image of the Model Y at the company's 2017 Annual Shareholder Meeting in June previous year.

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