Elon Musk appeared emotional after he survived the shareholder meeting on Tuesday, June 5 to remain as Tesla chairman.
This was following an attempt to oust him from the role.
Shaken
Moments after the vote, Musk appeared emotional and his voice quivered as he addressed the audience.
He said the company has experienced “the most excruciating hellish several months that we’ve ever had.”
“But I think we’re getting there,” he added.
You can watch this moment in the first minute of this shareholder meeting video:
Vote of confidence to carry on
The vote of confidence for Tesla’s embattled chief executive and founder comes at a time that Tesla has struggled the most.
The past six months saw the delayed rollout of the Model 3, which has a waiting list hundreds of thousands of buyers long.
It has been the source of most frustration inside the company and out, with concern that Musk’s manufacturing pronouncements can’t be trusted.
Production slow
At the shareholder meeting, Musk said Tesla is producing 3,500 Model 3’s a week and he expects that number to reach 5,000 cars per week by the end of the month.
Musk said manufacturing will be Tesla’s greatest strength long-term and predicted the company would be profitable in Q3 and Q4.
“We’re confident we know how to address them and we are addressing them,” Musk said, referring to production issues plaguing the Model 3.
“One of the biggest mistakes we made was trying to automate things that are super easy for a person to do, but super hard for a robot to do.”
Tuesday’s vote allowed three members of Tesla’s board of directors to remain: Antonio Gracias, a private equity investor; Kimbal Musk, Elon Musk’s brother; and James Murdoch, the chief executive of Twenty-First Century Fox.
Although Musk getting voted out was a long shot, the fact that shareholders have become increasingly critical of the billionaire was a wake up call.
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You can read about the shareholders' objections to Musk here:
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