Elon Musk Says Tesla Will Not Make Electric Motorcycles

Elon Musk co-founder and CEO of Tesla Inc

Norges Bank Investment Management (NBIM) - which has a 0.5pc stake in Tesla - said it backed a proposal put forward by a small shareholder to end Mr Musk's dual roles. Tesla's shaky finances and inability to meet its production goals for its first mass-market sedan has caused frustration among investors.

The vote comes at the behest of an individual shareholder, Jing Zhao of Concord, California, who owned just 12 shares of Tesla stock - allowing him to attend the meeting and propose a vote on the issue of the chairman seat.

Tesla CEO Elon Musk on Tuesday revealed new details about the Model Y electric SUV during the company's annual shareholder meeting.

Musk told shareholders that the Tesla Model Y would be unveiled in March 2019 with production in early 2020.

Model 3 production has increased to 500 cars a day, Musk confirmed.

It usually costs Tesla auto owners $1,000 to upgrade their vehicles with Autopilot, or up to $5,000 to have the feature included at purchase.

Tesla and Musk both struggle with regularity to keep Tesla's image in the press positive.

North Korean official to visit White House to deliver letter to Trump
The president has not denied speaking to the North Korean leader, and tantalized reporters with suggestions that he has done so. The envoy, Gen Kim Yong-chol, hand-delivered a letter from the North Korean leader to President Trump.

Wait times for the Model 3 are three to four months for an order placed today in the U.S. and 15 months for right-hand-drive cars, meaning the Model 3 is unlikely to arrive on British soil before the third quarter of 2019.

Musk spoke at the company's shareholder meeting on Tuesday and suggested the vehicle may not even have a steering wheel.

"We did not think these individuals are a credible, independent voice for shareholders".

There is also suggestion of a redesign of Tesla's upcoming Semi lorry.

'Then I had a road bike until I was 17 and was nearly killed by a truck, ' Musk said.

Tesla also announced it has deployed 1 gigawatt-hour of energy storage globally. "Next quarter, at the Gigafactory, we expect to make more battery capacity than all other EVs combined worldwide, including China". By then, Tesla's production lines should have worked all the kinks out and be able to ramp up more quickly to a new model. With manufacturing numbers months behind schedule and Tesla burning through cash, some critics believe "Elon time" threatens to jeopardize the company's relationship with Wall Street, putting Tesla's future at risk.

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