Tesla rallies with Model Y in the mix

Elon Musk co-founder and CEO of Tesla Inc

"Then I had a road bike until I was 17 and was nearly killed by a truck", Musk said.

"It's really looking like we're going to have positive GAAP net income next quarter, as well as positive cash flow, in Q3 and Q4", he said.

The news is welcome to electric bike makers, including Harley-Davidson CEO Matt Levatich, who has said the company remains on track to bring its first-ever electric bike to market in 2019. In less than one year from the date of the 2018 shareholder meeting, said Musk, Tesla will have installed its next 1 gigawatt-hour. If any significant number of "remove" votes are received, it probably signifies an erosion of confidence in Musk on the part of big institutional investors. Pictured, Valentino Rossi on a Ducati road bike.

One of the reasons for Musk's assurance that Tesla is turning the corner on manufacturing is the addition of a third general assembly line that completes the process of putting together the Model 3.

The new teaser is once again a shadowy shot devoid of details but it does provide a glimpse of the proportions of the Model Y, which Musk said Tuesday would be revealed in March 2019 and put into production in early 2020.

Speaking during Tesla's 2018 Annual Shareholder Meeting, Musk addressed the room full of investors that range and performance of the Tesla Semi and Roadster prototypes that were unveiled last November will be even better in the final production version. Musk said that it is important that the sports vehicle is better than its gasoline-powered rivals in every way, in order to prove the superiority of electric cars.

(Reuters) - Tesla Inc TSLA.O shares headed for their best day in more than two years on Wednesday after Chief Executive Elon Musk said the vehicle maker was now churning out 500 of its Model 3 sedans a day and should achieve its 5,000 per week target by the end of June.

Speaking about the company's failure to reach production goals, the CEO and chairman said that Tesla is more about love than finance.

Musk responded harshly to the Reveal report on Twitter, calling it "carefully constructed propaganda". The Model 3 is supposed to start at around $35k, though Tesla has yet to begin delivering those base-spec versions. That could cut the cost of the Model Y significantly and help assuage new buyers who may not receive a federal tax credit for their electric-car purchase.

We've still got quite a while to wait for the Model Y to appear. In April, Tesla said it was making 2,270 vehicles a week, less than half the promised 5,000 a week it said it would meet by the end of June.