Elon Musk keeps grip on Tesla, promises to solve production problems

Elon Musk keeps grip on Tesla, promises to solve production problems

"So we're not going to do motorcycles".

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"The EV motorcycle market is in its infancy today, but we believe premium Harley-Davidson electric motorcycles will help drive excitement and participation in the sport globally, ' he said earlier this year". "But I think we're getting there". One of the biggest things that came out of yesterday was Elon Musk said that for battery cells, they could be at below $100 per kilowatt-hour by the end of this year. Pictured, Valentino Rossi on a Ducati road bike.

Musk took the stage at the shareholder meeting, moving slowly and dressed in dark tones, and looking teary-eyed.

Tesla plans to unveil the Model Y crossover SUV in March 2019, with production launching in the first half of 2020.

Tesla has used its annual shareholder meeting to release a new teaser image of the upcoming Model Y crossover. The last several months, he said, were the most "hellish" in his life. Musk was mum on details for the Model Y, and it's not clear where the small crossover would be produced. However, he also joked that he has an "issue with time", referring to his overly optimistic and often missed production target dates. "I'm trying to recalibrate as much as possible".

Some investors have been unnerved by the company's struggle to speed up production of its more affordable Model 3 auto, which is crucial to the company's long-term profitability. Model 3 began deliveries in mid 2017.

Despite the fact that the Model 3 is expected to become Tesla's best-selling vehicle once the current step up in production is complete, the Model Y could usurp it, given SUVs' growing dominance in the industry.

Musk still thinks manufacturing will become a strength for the company in the long term, though he acknowledged this was a counter-intuitive prediction after Tesla's trying experiences over the previous year. He had been targeting 5,000 a week by around the end of June, a rate he said will allow Tesla to become profitable in the third quarter and cash-flow positive in each of the third and fourth periods. The stock is up nearly 10% today and has largely shrugged off the possibility of bad news associated with high cash burn rates and possible genealogy issues as part of the Model 3 ramp up and something to be anxious about down the line if there does actually turn out to be an issue.

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