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Speaking at Tesla's annual shareholders' meeting in Mountain View, Musk said despite what he called "a lot of difficulties", all production lines for the Model 3 are now capable of cranking out 500 cars a day.

NBIM in March voted against Elon Musk's proposed pay package, which was valued by Tesla at $2.6 billion and may ultimately become worth much more, although it was still approved by a majority of shareholders.

Tesla held its shareholder meeting today and the preliminary results of the votes on the shareholder proposal to remove Elon Musk from his position as Chairman of the board show overwhelming support for Musk.

The multibillionaire has bet the future of his $49 billion electric auto and battery-making company, on the success of the Model 3.

"But I think we're getting there", he added. Still, he said it's likely that Tesla will produce 5,000 Model 3 sedans a week by the end of the month, and that the company will be cash-flow positive in the third and fourth quarters of the year. "We will honor that promise".

The question of where Tesla is heading comes down to Model 3 production, according to a new report.

Cleared Guerrero heads Peru’s World Cup squad
Guerrero's header from Andre Carrillo's cross in the 64th brought more adulation from a partisan Peruvian crowd in neutral St. Peru's Paolo Guerrero in action during a friendly soccer match between Saudi Arabia and Peru in kybunpark stadium, St.

He indicated Tesla aims to build 10,000 Model 3 cars a week next year. "One of the biggest mistakes we made was trying to automate things that are super easy for a human to do, and super hard for a robot".

"To ensure that Tesla is well prepared for the future, we have been undertaking a thorough reorganization of our company", the memo obtained by AFP said.

In that regard, Musk was able to claim a slate of victories.

Tesla shareholders also voted to confirm three members of the company's board of directors, including 21st Century Fox CEO James Murdoch and Musk's younger brother, Kimbal Musk. Shareholders also re-elected board members whose seats were being challenged.

Leading up to the shareholder's meeting, several proxy advisory firms raised concerns about a lack of independence among Tesla's board of directors.

In April shareholder Jing Zhao tabled the suggestion to split the chairman and chief executive position, while also saying that Musk's involvement with SpaceX and the Boring Company could create possible sources of conflicts for Tesla down the road.


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