Tesla teases Model Y, promises March unveiling

Tesla teases Model Y, promises March unveiling

Norway's $1 trillion wealth fund backed the unsuccessful shareholder proposal to split Elon Musk's combined roles of chief executive and chairman at Tesla Inc., according to a statement.

"We will definitely offer a $35,000 version of the Model 3", said Musk. Tesla says it intends on kicking off Model Y production in early 2020.

Wait times for the Model 3 are three to four months for an order placed today in the USA 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.

"We are incredibly excited to build the first Gigafactory outside the USA in China, specifically it is going to be in Shanghai", Ren said.

"This is something I'm trying to get better at", he said.

As it works on ramping Model 3 output, the automaker is moving furiously to expand production at its massive battery manufacturing plant in Nevada. Because of the current Model 3 assembly rates, Musk said "it's quite likely we will achieve (production of) 5,000 cars a week by the end of this month".

So far, the focus for Tesla in 2018 has been on the Model 3 and improving production.

Shareholders also voted to re-elect Antonio Gracias, 21st Century Fox chief executive James Murdoch, and Musk's brother Kimbal Musk as company directors. "But instead of recognizing the need for independent and effective board leadership, Tesla has renominated three directors who exemplify the company's failure to evolve".

Canada to impose similar tariffs on United States steel and aluminum products
The EU had "no choice" but to bring a case before the World Trade Organization and impose duties on U.S. imports, he added. The director of UK Steel, Gareth Stace, said he feared there was clear potential for a damaging trade war.

The proposal to remove Musk from his role as chairman of Tesla's board was introduced by Jing Zhao, a shareholder who has questioned whether Musk - who leads several other companies in addition to Tesla - is spread too thin.

Tesla had recommended shareholders leave Musk with both top jobs and argued the directors are qualified.

"I'd probably put some sandbag on future dates; that's probably wise", Musk said.

A next-generation Supercharger will go into production by the end of 2018. "So we're not going to do motorcycles".

The aggressive energy storage deployment is possible because of the massive scale of the Gigafactory.

In an interview with CNBC News, ARK Invest analyst Sam Korus echoed Kallo's positive sentiment about Tesla's energy business, stating that the company's progress in its battery technology could very well make Tesla around two years ahead of the competition.

The two positions are often held by the same person in United States companies, unlike in UK firms.

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