Elon Musk tells Tesla shareholders there is "decent shot" at record quarter


Musk opened his speech by pointing out that the Model 3 outsells all of its competitors combined (which includes the BMW 3 Series, Mercedes-Benz C-Class, Audi A4, and Lexus IS), which we've known for a while. Last month, the company started taking orders for the second-generation Model 3 that will be built in Shanghai.

According to Musk, the vehicle is being created to "meet or exceed" the Ford F-150, which he is a fan of.

Musk said the company was hoping to unveil its electric pickup truck this summer, and get into semi truck production toward the end of next year.

"We might get into the mining business". He also said that the Model 3 (and Model Y once that's released) will optionally be "fully vegan" by this time next year with suitable synthetic replacements for the leather used for heated seats and steering wheel covers, and that the company now has no plans to begin advertising. "I don't know", Musk said.

Musk took a moment at the meeting to recognize that the range of electric cars being launched these days by other companies is not much more than that of the original 2012 Model S. To stay at the top of the market, Musk announced that Tesla is working on a model that will exceed 400 miles on a single charge. "It's amusing you should mention that".

Musk said the electric-car maker's ability to expand its product lineup depends on being able to produce a large number of batteries.

The vehicle designs were apparently inspired by 1977's The Spy Who Loved Me, in which Roger Moore's James Bond drives and dives in an pimped-out auto able to convert to a submarine. "The faster you scale, the more cash you have".