Musk Says Tesla Plans to Build up to 20 'Gigafactories' Worldwide

3 challenges Tesla faces as shareholders meet

3 challenges Tesla faces as shareholders meet

Not a great deal is known about the Tesla Model Y, apart from the fact it'll be on sale around 2020 according to previous comments made by Musk.

Sure, Tesla did share an image of the auto during a shareholder meeting at the Computer History Museum in Mountain View, California, on Tuesday, but it doesn't show much, except that the vehicle will have a front window, and, probably, headlights.

Tesla Inc shares fell $1.54 (-0.44%) in premarket trading Wednesday.

Musk also said the Model Y would be a significantly simpler vehicle than its current offerings.

Phillies look to seal series win in Atlanta
A replacement for Colon in the starting rotation is expected to be announced in a couple of days, manager Brian Snitker said. Philadelphia logged nine hits with Howie Kendrick going 3-4 with a solo jack while Odubel Herrara driving in a pair.

Originally set to be based on the incoming Model 3 mid-size sedan, it's now understood the junior Model X will be based on an all-new platform. He continued, "So, it's not a mystery; they already know that it's going to meet their needs...because they've told us what those needs are, so it's really just going to be a question of scaling volume to make as many as we can".

The teaser was shown during a shareholder meeting, giving investors an idea of things to come for the ambitious echo-car maker.

Demand for Tesla's higher-end vehicle is likely to continue to soften, longer-term the company's profitability will likely underwhelm, and Tesla's other business lines won't move the profit needle within the next three years, if ever, wrote the analysts, led by Brad Erickson. Musk claimed the firms would buy as many trucks as Tesla could build. Bigger rivals like GM, Volkswagen and Toyota routinely sell more than 10 million per year. Tesla was previously mulling the creation of the said electric vehicle on the same platform as the Model S/3 sedan. And while Tesla is promising to increase its network of stores and service centres by 30 per cent this year, this is still not much considering it began in 2017 with just 250 service centres worldwide. That leaves many potential owners miles away from a service center. Surprisingly, it is still two more years to go but buyers were excited to grab hold of the fully electric auto so that they stay ahead of the competition. Tesla has had only two profitable quarters in its seven years as a public company.

Earlier this year, the stock's rally took the company's to No. 1 among USA auto makers measured by market capitalization, vaulting above General Motors Co.

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