Tesla Teases Model Y Compact SUV

Tesla: Why It's 'All About' Model 3 Production

Leading up to the shareholder's meeting, several proxy advisory firms raised concerns about a lack of independence among Tesla's board of directors. The last several months, he said, were the most "hellish" in his life. In addition to the usual company presentation on operations and a likely Q&A session for investors, the most pressing issue on the agenda is a vote to require that the position of Chairman of Tesla's board of directors be filled by an independent party. Tesla says it intends on kicking off Model Y production in early 2020.

"We are concerned as to whether these highly paid directors can help the chief executive respond to the problems facing Tesla", they said. Meanwhile, production of the all-wheel-drive variant is imminent, so USA customers who are waiting to configure their D-badged Model 3 order will receive a notification within the next week, said Musk. The consumer publication reversed course and now recommends the Tesla Model 3 after the electric carmaker sent an over-the-air update that improved the car's braking distance by almost 20 feet. During the Annual Shareholder Meeting, Musk reiterated a recent report stating that the company has deployed a total of 1GWh of energy storage worldwide to date.

Apart from assuring investors that the Model 3 line is steadily approaching its production goal, Musk also discussed what could very well be the dark horse of Tesla's ecosystem - its energy business. Musk reiterated previous predictions that that will happen during the second half of this year. Tesla has not hit the intended goal of 5,000 cars per week.

Tesla chief Elon Musk just survived the first serious attempt by major investors to cut back his power in the company.

"We did not think these individuals are a credible, independent voice for shareholders".

"Model Y, for example, will not have any leather in it, including in the steering wheel - even if it does have a steering wheel", he said. The goal, said Musk, is to be able to go nearly anywhere on earth using the Tesla Supercharger system.

In November 2017, it said it hoped to achieve a production rate of 5,000 per month by the end of the first quarter of 2018, pushing back what was originally a target for the end of 2017.

Tesla is also now turning its attention toward expanding its manufacturing capacity by adding another plant, which will produce cars, battery packs and powertrains in Shanghai.

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