The following is an excerpt from Alexandria Sage, Noel Randewich | June 5, 2018 | reuters.com |
(Reuters) - Tesla Inc Chief Executive Elon Musk said on Tuesday that a goal of building 5,000 Model 3s per week by the end of June was “quite likely” as the company’s production lines were now demonstrating the ability to build 3,500 vehicles per week.
“This is the most excruciating hellish several months I’ve ever had... but I think we’re getting there,” Musk said during Tesla’s annual meeting of stockholders in Mountain View, California.
Musk’s comments came after shareholders re-elected three directors and voted against a proposal to wrest the chairman role from Musk. That had represented the strongest challenge yet to Musk’s grip on the Silicon Valley electric vehicle maker, which also faces production setbacks and expectations by many analysts that it will need to raise new cash.
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