3 challenges Tesla faces as shareholders meet

Tesla Motors CEO Elon Musk unveils the company's newest products in Hawthorne Calif. Tesla Inc. is riding high as it hosts its annual shareholders’ meeting Tuesday

No worries though - since just like with the Tesla Model 3, the company will showcase the design and open the reservation books.

Tesla stock hit a record high Tuesday, up 2.8%, near 357.10 during afternoon trading in the stock market today.

Musk also specified that under the new platform for the Model Y, the company will not use the same 12-volt lead-acid battery to significantly reduce the amount of harnessing that goes between the battery and the powertrain. It has faced manufacturing delays with previous models, including the latest Model X SUV which was almost 18 months late. A necessary measure which has to be taken by Tesla in order to meet the huge demands that an affordable all-electric Tesla auto will be having in the market. Talking to the shareholders during yesterday's meeting, Musk was quick to add that the configurator should be everyone's last concern at the moment, and that's because it won't be offering too many options.

The Tesla Model 3, the company's "budget-friendly" vehicle, will be released next month, but Musk stayed surprisingly tight-lipped on details.

According to Zigwheels, Tesla is collaborating with the tech company LG to make a 15-inch landscape touchscreen for the dashboard of the auto.

Musk didn't doubt that injuries do happen at Tesla's factory, but said the company is making progress in reducing the number of employees who do get hurt while doing their jobs. Bigger rivals like GM, Volkswagen and Toyota routinely sell more than 10 million per year.

Tesla hasn't even shown people the public the real Model 3 yet and it's already planning a vehicle to follow.

Of course, the US remains Tesla's most important market in term of total sales, but it's not impossible that it could change in the near future now that China is both the biggest auto market in the world and the biggest market for electric vehicles. GM beat Tesla to the mass market with the Chevrolet Bolt, a $36,000 vehicle that goes 238 miles per charge. Volkswagen plans more than 30 electric vehicles by 2025.

When it comes to Tesla Inc., perception is reality, and fundamentals and profitability will be "largely ignored" until next year.

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