But Musk made it clear that he didn’t want to rehash the past: “I don’t think it’s worth going over those things,” he told the audience.
Shares rose 3% after hours during the shareholder meeting, though. And Musk says Tesla is in a great position, calling it “financially insane” not to invest in an electric vehicle that isn’t capable of being updated with fully autonomous driving.
Musk also gave a full-throated rebuke to the idea that the Model 3 is not attracting enough buyers in the United States.
“I want to clear up: There is not a demand problem,” he said. “Absolutely not.”
He said the Model 3 is outselling all its US competitors combined. Citing Edmunds and automaker data, Musk boasted that it is the top-selling car by revenue out of all vehicles — including other electric, gas and diesel vehicles.
“Sometime next year,” Musk said, Tesla will roll out “autonomous driving” capabilities that don’t require any supervision from drivers. From there, the company will look to convince regulators that its cars can operate with nobody inside.
Tesla is also looking to ramp up its battery production and create cheaper batteries, another plan that is important for its future.
Looking ahead: Shanghai, Model Y, ‘Cyberpunk Truck’
The Model Y may reach full production volume before the end of 2020, Musk said.
And Telsa’s design for a pickup, which the CEO referred to as the “Cyberpunk Truck,” will be unveiled this summer.
“It’ll look like it came out of a sci-fi movie,” Musk said of the truck. “It’ll be really cool, I think.”
Musk added that the Shanghai factory is being built rapidly, and it will be key to allowing Tesla to compete in the massive Chinese car market.
Eventually, he added, Tesla wants to have a “car factory on each continent.”