Model 3 is on target, says Elon Musk

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

"I do think I have an issue with time", Musk replied.

"I actually used to ride motorcycles when I was a kid, dirt-biking for like eight years or something".

21st Century Fox is the parent company of Fox News and Fox Business.

"In less than a year from now, we will do another Gigawatt (project)". "We expect to get into volume production by Q1 of next year".

The Tesla chairman and CEO also offered updates on some future products, including the long-awaited $35,000 version of the Model 3. If any significant number of "remove" votes are received, it probably signifies an erosion of confidence in Musk on the part of big institutional investors. Pictured, Valentino Rossi on a Ducati road bike.

For Tesla to make affordable vehicles, "it is going to be important to localize production to at least a continent level", Musk said. Tesla released the first teaser image of the Model Y at the company's 2017 Annual Shareholder Meeting in June previous year.

Musk reiterated that his company can do all this without the need to raise funding this year, which is something some analysts disagree with. Responding to a question about the smaller segments the brand will expand into, Musk said: "I think we'll do a compact vehicle in less than five years".




The all-wheel drive version of the Model 3 will come out next month, Musk said. Tesla previously stated a late 2019 production goal for the Model Y, but it remains unclear at this point if the company will be able to hit that target. Model 3 began deliveries in mid 2017.

When it's available, the Tesla Model Y would take on challengers such as the Jaguar I-Pace, BMW iX3, and Mercedes-Benz EQC, which may beat it to market.

NBIM - which holds a stake worth about $250m in Tesla and holds 1.4pc of all listed companies globally - is a strong advocate of good corporate governance and its stance is highly influential. Bullish-leaning firms such as Baird think that Tesla's valuation can remain elevated if enthusiasm over the long-term potential of the Model 3, Tesla Semi and Model Y keeps churning.

As a result, the company's shares fell 5.4 per cent in after hours trading on November 1.

As it works on ramping Model 3 output, the automaker is moving furiously to expand production at its massive battery manufacturing plant in Nevada.

A next-generation Supercharger will go into production by the end of 2018. He says the electric auto company will solve its Model 3 production problems.

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