June 21, 2018

Model 3 is on target, says Elon Musk

07 June 2018, 12:02 | Lionel James

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

Tesla CEO Elon Musk unveils the Roadster 2 during a presentation in Hawthorne California

Speculation that Musk could face a revolt at the company's shareholder meeting in California on Tuesday night were dashed, as investors voted by more than a super majority against measures that would seen his grip on the company weakened.

Shareholders sided with the board's recommendations on all agenda items, Todd Maron, Tesla's general counsel, said, including re-electing Antonio Gracias, Tesla's lead independent director; Kimbal Musk, a food industry entrepreneur and Elon's brother; and James Murdoch, CEO of Twenty-First Century Fox Inc.

This was in spite of some stakeholders raising concern that a board with these directors lacked independence. Musk said that it is important that the sports auto is better than its gasoline-powered rivals in every way, in order to prove the superiority of electric cars.

Moments after the vote, Musk - who appeared emotional as his voice quivered - said the company has experienced "the most excruciating hellish several months that we've ever had". Tesla has faced increasing financial pressure after struggling to ramp production of the Model 3 that began assembly last July. Tesla has focused on high-priced configurations, some exceeding $70,000, since the vehicle began rolling off assembly lines in 2017. Ordered today, wait times for Model 3s with the existing configuration would be three or four months, said Musk.

Contrary to recent press reports asking if Tesla might be abandoning the mass market and what happened to the $35,000 Model 3, Musk assured investors Tesla has not given up on plans to manufacture the base-level version of the auto. Musk reiterated previous predictions that that will happen during the second half of this year.

Trump to meet Abe before 'expected' Kim summit
About three weeks later, Albright made a historic reciprocal trip to Pyongyang to try to arrange a North Korea trip by Clinton. Russian Federation is the latest major nation to reach out to North Korea since Trump accepted Kim's proposal for a summit.

Tesla missed its production goal for 2017's third quarter, producing only 260 vehicles compared to an earlier estimate of 1,500. Some shareholders had raised questions about their qualifications or independence. "Model Y will not have any leather in it, even in the steering wheel... even if it does have a steering wheel", Musk said. CEO Elon Musk delivers a speech at the Paris Pantheon Sorbonne University in Paris. Then I had a road bike until I was 17, and was nearly killed by a truck.

There is also suggestion of a redesign of Tesla's upcoming Semi lorry.

"The rate of stationary storage deployment is going to grow exponentially", he added.

Tesla will eventually build 10 or 12 Gigafactories worldwide, said Musk, with the goal of localizing production at least to the continent level.

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