At the Tuesday annual stockholders' meeting, after the voting on the proposals, Musk took to the stage and said that it was "quite likely" that Tesla could start building 5,000 Model 3s a week by the end of this month. The money-losing auto maker has said its forecasts for profit and cash generation in the second half of this year - which Musk reaffirmed during Tesla's annual meeting on Tuesday - are dependent on reaching this target.
Tesla Inc. shareholders sided with its besieged board by defeating a proposal to require that the chairman be an independent director and approving the re-election of three directors criticized by an activist investor group.More news: Trump said when he hopes to meet with Kim Jong Inom
More than three decades later, the business world is still wrangling with "Elon Time", as one shareholder has labeled it, those confident pronouncements about the timing of deliveries, rollouts and benchmarks that are often unrealistic at best, empty spin at worst (depending on your perspective). The gathering of Tesla fans and shareholders capped several rough months for the company as it struggled to meet production numbers, and Wall Street expectations.
Musk assured shareholders that the Model Y would be unveiled in March 2019.
"The biggest constraint on output is general assembly", said Musk.More news: Trump to Disney CEO after 'Roseanne' scrapped: Where is my apology?
A Tesla spokesman declined to elaborate Wednesday on Musk's comments. The stock had dropped 6.5% this year to Tuesday's close.
The idea of a battery-powered motorcycle from Tesla has been floated before, and it would have made sense, more so, since the future of the two-wheeler industry seems to be veering towards the electric space, much like cars and other automobiles. "I do have an issue with time", Musk said, according to Detroit News.
Musk spoke at the company's shareholder meeting on Tuesday and suggested the vehicle may not even have a steering wheel. The vehicle starts at $35,000, but now, only the $44,000 version with a long-range battery is available.More news: Allies hit back at Trump’s steel, aluminium tariffs
Tesla Model S went on sale in 2012 and Model X in 2015. Tesla says it intends on kicking off Model Y production in early 2020.