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3 challenges Tesla faces as shareholders meet

08 June 2017

At the shareholders' meeting, Musk said the Model 3 would initially come with a two-wheel drive, and an all-drive version would come later.

The meeting took the lid off new updates on Model 3, Model Y, and the Tesla Semi, while also providing updates on more mundane business matters. The Model 3 is expected to cost from $35,000 (€31,000) in the U.S., putting it in the same bracket as the BMW 3 series.

Elon Musk on Tuesday revealed several details about upcoming Tesla models, and even divulged some surprising information about his own Twitter habits. Tesla continued its incredible 2017 momentum heading into the highly-anticipated release of the Model 3, which is expected to begin production this summer. Its last new vehicle, the Model X SUV, was delayed almost 18 months. Replacing those vehicles with ones powered by electricity will go a long way toward alleviate their burden on the environment.

Shares of Tesla have surged more than 62% so far this year on expectations for a strong debut of the Model 3.

Tesla Model Y Teaser Image Revealed
This one analyst thinks Tesla shares have more room to run

All eyes were on the Tesla CEO yesterday as he led the company's annual shareholders meeting. "For death or serious injury in an S or an X, it's really hard to do that", Musk said. It's about to introduce its first mass-market electric auto, the Model 3 sedan, as well as a new line of solar panels.

Part of Tesla's decision to build the Model Y on a new platform was driven from their experience building the Model X.

From Inverse, "I think we really made a mistake in trying to derive the design for the Model X from the Model S platform. Otherwise, you would just try to shoehorn something that doesn't make sense", he said. Also seen is Tesla's attempt to get rid of the ORVMs, which they had tried to do with the Model X but failed since it did not comply with regulations in most countries. Once production ramps up, customers will be able to choose between other configurations - but Tesla's main goal in the meantime is get as many cars on the road in the first production round as possible. "A lot of people have ordered (the Model 3)".

"Any customer can have a vehicle painted any color that he wants so long as it is black", Henry Ford once said.

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3 challenges Tesla faces as shareholders meet