In its annual shareholder meeting Tuesday, Tesla CEO Elon Musk offered details about an exciting slate of new products planned for the company. Below are a few notes from the event.
Model 3 – Musk said Tesla will “definitely” begin production of the Model 3 next month. Customers anxious to dive into the option configurator will be a bit disappointed, as color and wheel size are the only early selections available when the configurator goes online in July. However, more options will be added as production ramps up.
Initially, the Model 3 will only be available in a single-motor configuration. Dual motor cars are likely next year. For those still waiting to pull the trigger on a Model 3 purchase, Musk said a reservation placed today will result in delivery more than a year away.
Model Y – Tesla offered the first look at the design of its upcoming small SUV, the Model Y. Musk said he expects the vehicle to outsell the Model 3 and likely demand its own production facility.
Tesla Semi – Tesla’s electric semi truck is still on track for its debut in September. Musk said the company will be able to produce the trucks at scale in about two years. Designed with the input of the the trucking industry, Musk said he expects the truck to be a transformative hit with fleet operators.
Board terms – Tesla shareholders rejected a proposal by two pension funds to subject Tesla directors to annual re-election. Directors’ seats will continue to carry a term of three years.