Tesla Model Y teased again, reveal coming March 2019

Tesla got a head start in the premium electric vehicle segment

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

Tesla CEO Elon Musk told shareholders Tuesday that the last few months have been "hellacious" for building the Tesla Model 3, but that the automaker expects by the end of this month to build 5,000 of the mid-size luxury sedan each week and beyond.

"Despite a lot of difficulties, all parts of the Model 3 production system have demonstrated a 500 auto per day capability or a 3500 per week capability".

Tesla has yet to meet its original goal of shipping 5,000 of its Model 3 sedans per week.

The comments came during Tesla's 2018 annual shareholder meeting at the Computer History Museum in Mountain View, California.

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"The Model 3 ramp is understandably the central focus for investors as the company works to increase production", Baird Equity Research analyst Ben Kallo wrote in a research note. The stock was trading at $301.50 on Wednesday.

Elon Musk will remain the chairman of Tesla's board of directors. "At a lot of other companies, they're built by marketing or the finance department and there's no soul". Tesla's gigafactory in the USA state of Nevada makes batteries for the company's cars, which are built in northern California. He reiterated that the company will not need to raise money this year.

Union-affiliated investment adviser CtW Investment Group had rallied shareholders to reject three Tesla directors it says lack qualifications or independence, including investor Antonio Gracias, Tesla's lead independent director; James Murdoch, the CEO of Twenty-First Century Fox Inc; and sustainable food executive Kimbal Musk, Elon Musk's brother.

"We're confident we know how to address them and we are addressing them", Musk said about the issues.

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The Model Y will mimic the business model of the Model 3-a mass-produced, affordable electric auto.

Given the number of factors at play, we'll be very interested to see Tesla can continue to hold things together. Tesla released the first teaser image of the Model Y at the company's 2017 Annual Shareholder Meeting in June previous year.

'Model Y will not have any leather in it, ' Musk said at the shareholder meeting.

By the end of the year, he said, Tesla should be able to manufacture the Model 3 with the smaller battery pack.

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The report says that 8 percent of depositors had configured a Tesla for production in April, which deems the purchase nonrefundable. Robin Ren, head of world-wide sales, said it would be located in Shanghai.

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