Tesla CEO Elon Musk speaks during the unveiling of the new Tesla Model Y in Hawthorne, California on March 14, 2019.
Frederic J. Brown | AFP | Getty Images
Tesla CEO Elon Musk spoke at the company’s annual shareholder meeting in Mountain View, California on Tuesday, telling investors, “It won’t be long before we have a 400 mile range car.”
He also said that sometime next year, Tesla drivers will be able to use self-driving features in their vehicles without intervention. Musk elaborated, “Every car made since October 2016 is capable for full autonomy with replacement of the computer alone.”
The electric vehicle and renewable energy company is on the hook to produce and deliver 90,000 to 100,000 cars to customers by the end of this quarter, per its earlier guidance, which has been reiterated by execs, including Musk and CFO Zach Kirkhorn, throughout the period.
Tesla is also trying to make and sell more cars with fewer employees in the US, having laid off hundreds in cost-cutting measures earlier this year. At the same time, it is expanding operations internationally, with a new battery plant and car assembly, known as Gigafactory 3, under way in Shanghai.
The annual meeting marks the first for Tesla since Oracle founder Larry Ellison and Walgreens Boots Alliance executive Kathleen Wilson-Thompson joined the company’s board of directors late last year. (Ellison was in attendance on Tuesday.)
Tesla stock has been edging higher in recent days after favorable analyst reports and electric vehicle sales forecasts from the likes of Morgan Stanley and IHS Markit, respectively. Tesla shares closed on Tuesday at $217.10, down about 36% since this time last year when they were trading near $342.