Tesla shareholder urges to boot Elon Musk as board chairman

Elon Musk

Elon Musk indicated Tesla will take a question from retail investors during its first-quarter earnings call

The following are five takeaways from Tesla's first-quarter earnings report released on Wednesday, May 2 after the close of stock market.

"Excuse me. Next. Next", Musk said to the call operator.

An analyst from RBC Capital Markets posed a question about reservations for the Model 3, Tesla's first mass-market vehicle that's proven wildly popular but has been plagued by production issues.

Musk went on to say he expects "exponential" growth of Model 3 production in the third and fourth quarter of this year, with the goal of delivering more than 100,000 units by year's end.

In response to the proposal, the company's board recommended not to vote for replacing Musk with an independent director. Sorry, these questions are so dry.

He then took several questions in a row about plans for a self-driving auto network and other long-term projects from the host of a YouTube channel focused on investing, praising the questions as not boring.

The South African-born entrepreneur once said he "sleeps at the factory" to ensure his firm produces the 5,000 Model 3s a week it has previously promised.

Now only about 2,000 of the cars are being produced each week, with more than 500,000 people having made paid reservations for the affordable mass-market electric vehicle. Langan remains cautious given the cash burn, the volatile and uncertain production timeline for the Model 3, and initial quality concerns.

Abe's Middle East trip was to support United States , highlighting Japan's mediatory role
He met with Palestinian President Mahmoud Abbas the day before after arriving from Jordan. He is accompanied by his wife and a delegation of senior Japanese business leaders.

Mr Musk has also made the unusual admission that automation is overrated and more humans are needed to build the cars.

"We're gonna go to YouTube".

Tesla had also initiated a temporary shutdown of the Model 3 line back in February.

He claimed that "people might actually turn it off and then die" because of the stories following two fatal crashes of Teslas on autopilot this year.

The company said in April that it wouldn't need more capital this year as it generated added cash as production and sales of the Model 3 grew. The Tesla boss also conceded he still hadn't decided where production of the vehicle would begin, again disputing Reuters claims that it would be at the company's plant in Fremont, California.

Tesla "is definitely not in a minimising cost stage", Thibault said.

"It does appear quite likely in my view. We're going to scrub the barnacles on that front". However, a number of analysts expressed concern about Tesla's enormous debt levels and the large amount of cash it is burning through.

Zhao, who is beneficial owner of 12 shares of the Tesla's common stock, pointed out that Musk's positions at SolarCity and SpaceX as well as degree of his involvement could trigger conflicts down the road.

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