3 challenges Tesla faces as shareholders meet

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At Tesla's annual shareholderTesla - now in the business of making electric vehicles, batteries, and solar panels - is currently building its first gigafactory outside of Sparks, Nevada. Musk didn't reference them during the Tesla shareholders meeting where the photo was released, but the design could indicate plans to replace them with video cameras, if regulations are updated to allow it.

Alright, so the good news is that the Model 3 is totally on schedule. The company has confirmed that it's on track to deliver the first production Model 3 vehicle next month.

Tesla boss Elon Musk admits he got several things wrong with the company's flagship vehicle, the Model X. The billionaire entrepreneur, who has previously blamed "hubris" for the auto being delayed, said making the vehicle as complex as it is was "very foolish".

He said: "There's been some criticism, like we should derive it from the Model 3 platform, but I think we made a mistake trying to derive the Model X from the Model S platform. Otherwise you're just trying to shoehorn something in that doesn't make sense".

However, the CEO kept the air of mystery intact and mentioned that more information on the project will be revealed at the upcoming reveal of its all-electric semi truck.

In addition, Musk told investors Tuesday that the Model Y - whose design hasn't yet been finalized - will hit the streets in 2019. The Model Y, which is expected to offer simpler internal electric systems than previous models, will be available by 2019.

As reported earlier, Musk, in passing, had previously stated that the Model Y crossover vehicle will be based on a completely new underlying platform.

The first wave of customers will have only two choices for the mid-market electric auto, Musk said: "What color do you want, and what size wheels do you want?" The data is from more than 10,000 reservation holders of Model 3.

You get some more hood lines on this one. What this means exactly no one can be sure, but more details will be revealed in September alongside Tesla's planned launch of its electric lorry. So it should have been the auto Tesla started working on before the Model 3.

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