Norway's $1 trillion wealth fund said on Wednesday it had backed an initiative to wrest the role of chairman away from Tesla Chief Executive Elon Musk. "We just did a big set of upgrades, and it's quite likely that we will achieve a 5,000 vehicle a week (production rate) by the end of this month", Musk said.
He was wearing one at the automaker's annual shareholder meeting on Tuesday, when an audience member asked if Tesla had ever considered getting into the electric motorcycle business, which Harley-Davidson is about to enter.
"I actually used to ride motorcycles when I was a kid, dirt-biking for like eight years or something". The company may announce more details about that factory as soon as next month, Musk said, then reveal plans for another to be built somewhere in Europe toward the end of 2018. "So we're not going to do motorcycles". "At Tesla, we build our cars with love". And an electric motorcycle from a company with Tesla's brand image would certainly have meant a lot of consumer interest, and possibly even sales for the electric vehicle company. Model 3 began deliveries in mid 2017. That's eased the carmaker's cash burn, but some Model 3 reservation holders sought assurances their wait wouldn't be for naught.
One of the reasons for Musk's assurance that Tesla is turning the corner on manufacturing is the addition of a third general assembly line that completes the process of putting together the Model 3.More news: French Open 2018: Fernando Verdasco downs Grigor Dimitrov in straight sets
"We did not think these individuals are a credible, independent voice for shareholders".
There are a lot of qualifiers in that sentence, but the Model 3 has seen a lot of interest as the most affordable electric auto from the automaker, even as Tesla struggles to try and ship at the same rate it is selling, and Jaguar's rival I-PACE electric vehicle sees growing interest.
He said: "It's important for us to show with the Roadster that an electric vehicle can outperform a gasoline auto in every way". Tesla says it intends on kicking off Model Y production in early 2020. Tesla's shaky finances and inability to meet its production goals for its first mass-market sedan has caused frustration among investors.
By the end of the year, he said, Tesla should be able to manufacture the Model 3 with the smaller battery pack.