Tesla Model Y teased again, reveal coming March 2019

Marcus Newton
June 7, 2018

"This was, I have to tell you, the most excruciating, hellish several months I've maybe ever had", Mr. Musk said at Tesla's annual shareholder meeting near the company's Palo Alto, Calif., headquarters. It also appears as though the Model Y, which will be roughly the size of the Model 3 sedan, will have a few more curves than the larger Model X, including a more sharply raked windshield.

At the event, Musk said Tesla (TSLA) would be "cash flow positive" by the end of the year, and he said it's "quite likely" that Tesla will reach its goal of building 5,000 Model 3 cars per week by the end of the month.

After conceding that "staying alive" is hard in the auto industry, Musk told shareholders that Tesla will be "cash flow positive" during the second half of this year.

But asked the question about electric motorcycles directly, Musk says it's not going to happen. "We expect to get into volume production by Q1 of next year".

As it works on ramping Model 3 output, the automaker is moving furiously to expand production at its massive battery manufacturing plant in Nevada. Little is known about the auto at this stage, but Tesla founder and CEO Elon Musk has said it will have falcon wing doors (opening vertically, like on the Model X). Volume production of the $35,000 Model 3 would begin in Q1 2019.

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A next-generation Supercharger will go into production by the end of 2018.

(Musk is heavily involved in both SpaceX and The Boring Company, of which he is the founder and CEO of both.) Zhao's proposal noted the multi-company CEO could simply be spread too thin for the benefit of Tesla. Three other directors; Antonio Gracias, a private equity investor; James Murdoch, CEO of 21st Century Fox and Kimbal Musk, Elon's brother, were also re-elected as members of the board. "Shareholders approved the re-election of the board of directors by a significant margin, which we believe provides a vote of confidence in management", Kallo wrote.

The move would have removed Musk as chairman of the Tesla board.

Elon Musk has said Tesla will never build a motorcycle - because he was nearly killed riding one when he was 17. The company's initial public offering was eight years ago, which priced the stock at 17. Still just one-third complete, it already takes two hours to walk the length of the factory floor, according to Musk.

Other reports by MaliBehiribAe

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