On Tuesday, Tesla CEO Elon Musk spoke at the company’s annual shareholder meeting that was held in Mountain View, California. He told investors that it won’t be long before they would have a 400-mile range car. Usually, Tesla’s annual shareholder meeting doesn’t share the reputation of coming with some breaking news. However, the 2019 edition gave a few hints about Tesla’s future.
One of the most important pieces of news which Elon Musk suggested is of a planned battery and powertrain investor day that is going to happen sometime in summer. Musk hinted that owning a gas car would be similar to using a horse to go around. On being asked by a Tesla shareholder whether the company’s announced pickup would have enough power to pull the horse.
The shareholder meeting had its own share of ups and downs. The meeting comes at a time when Tesla’s stock price is at a two-year low after plunging almost repeatedly throughout 2019. The company faced one of its worst quarterly losses ever to kick-start the year, has faced new probe about the safety of its Autopilot driver assistance feature, and faced questions about recent battery fires.
Elon Musk argued at the meeting that they are not facing any demand problem, and stated that Tesla is still finding new customers. He stated 90% of orders coming in are from customers who aren’t holding a reservation for the Model 3. Tesla started shipping Model 3s to China and Europe at the start of the year.
Tesla recently finished a months-long process of purchasing battery tech company Maxwell Technologies.
Musk has showed his love for the upcoming Tesla pickup truck again and again, and so it’s not a surprise he echoed that very sentiment at the shareholder meeting. Even though no images of the truck was revealed, but Musk hinted that it would be revealed this summer.
Musk announced that they are going to start offering insurance to its customers; since, the company has more direct access to its cars’ data.
One needs to wait and see what’s more in store from the house of Tesla. Well, only time would tell.