"It won't be long before we have a 400-mile range car," Tesla (NASDAQ:TSLA) CEO Elon Musk said at the company's annual shareholder meeting, outlining plans to unveil a pickup truck this summer and get into semi production toward the end of 2020.
He also said that sometime next year, drivers will be able to use self-driving features in their vehicles without intervention.
Tesla is on target to grow its entire "fleet" by 60% to 80% in 2019, Musk added, saying "it's hard to be profitable with that level of growth," but the company would still be cash-flow positive while growing at that rate.
By the end of this year, Tesla intends to determine and announce the location for another battery-and-car plant in Europe, with plans of establishing a car factory on each continent.
A proposal to narrow board members’ tenure to two years from three failed to get enough votes, as did the bid to change the supermajority voting requirement to a simple majority.
Auto insurance? Tesla will be able to offer policies after completion of an unspecified acquisition, as well as development of additional software.
Now read: Tesla: Why China Poses High Risks »
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