Tesla rallies with Model Y in the mix

Tesla rallies with Model Y in the mix

Tesla rallies with Model Y in the mix

"We have no corporate governance problem with Mr. Musk's dual titles, as ultimately it is about delivering the vehicles profitably", CFRA analyst Efraim Levy said. Tesla could have produced 5,000 Model 3s per week with the original two production lines, he said, but with the addition of the third, "I'm highly confident that we can exceed 5,000 units per week".

The proposal to remove Musk from his role as chairman of Tesla's board was initiated by Jing Zhao, a shareholder who believes Musk may be "spread too thin".

During Tesla's recently-held 2018 Annual Shareholder Meeting, Elon Musk revealed that the Model 3 line is now producing a steady rate of 3,500 vehicles per week. "This puts Tesla roughly two years ahead of the competition when it comes to battery costs and technology", Korus said.

"So, we're not going to do motorcycles", Musk said. Answering a Twitter question about whether European customers will get a cab-over-engine model, Musk said that an upcoming revision to the design that was revealed in late 2017 will make the truck fit in with legislations across the world. When it does debut, we can expect similar powertain options and a slightly higher price point than the Model 3.

One of the more dramatic moments of the meeting came when Musk narrowly survived an attempt to oust him from the position of chairman by one of the board's directors.

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The Tesla chairman and CEO also offered updates on some future products, including the long-awaited $35,000 version of the Model 3. "I kind of say when I think it can occur, but then I'm typically optimistic about these things". "I do have an issue with time", Musk said, according to Detroit News.

Tesla also announced it has deployed 1 gigawatt-hour of energy storage globally.

Musk said it likely won't be widely available until the beginning of 2019, as Tesla focuses on building and selling the more expensive versions of the sedan during its production ramp up, in an effort to maximize revenue.

As Tesla's 'Autopilot' feature remains in the news for all the wrong reasons, the company is looking to release a free trial of its self-driving software in the coming months, in a bid to improve public trust in its capabilities.

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