Elon Musk Addresses Shareholders Meeting

The cofounder and CEO of Tesla Motors has made some announcements.

The co-founder and CEO of Tesla Motors has made some announcements. Tesla news reported that Elon Musk has recently addressed the company’s shareholders in California and proclaimed that the automaker’s Chief Financial Officer (CFO), Deepak Ahuja, is about to retire in the later part of this year.

Since 2008, Mr. Ahuja has been managing the financial affairs of the company. The 52-year-old has helped the company to grow from a startup to a huge electric vehicle maker. Company sources have revealed that he was the organization’s first finance chief.

Tesla news today informed that Mr. Ahuja had played a significant role in managing the organization’s first initial public offering (IPO). The CEO has appreciated the experienced employee by stating that he has done a brilliant job. Experts presented their view that the retirement of such an outstanding official might cost Mr. Musk, if he fails to appoint a highly qualified financial expert.

Tesla Motors news affirmed that in his speech, CEO Musk has disclosed some other relevant details as well. The South African born entrepreneur has stated that the company is expected to sell 55,000 cars this year. He added that the organization is also anticipated to achieve a sales growth rate of 50%. The electric vehicle pioneer intends to supply more than 82,000 automobiles in 2016. Industry experts believe that Tesla’s sales indicator helps assess its ability to sell 500,000 cars in 2020.

Market sources stated that the CEO has informed the stakeholders that as per schedule, the company would deliver Model X sports-utility vehicles in the coming three or four months. In the meeting, he praised Model X by stating that the tests have concluded it is the safest SUV. Tesla’s head has also claimed that he would soon begin supplying electric powered cars to the Mexican market.

Model 3 was also discussed in the meeting. The CEO wants to sell it at an affordable price. This car would feature a single motor rear wheel drive. The share owners were also provided details’ regarding the organization’s charging plans. The automobile manufacturer intends to speed up the process by which its vehicles are charged. Currently the 80% capacity of a car is powered in a time span of 20 minutes.

In the session, a shareholder asked Mr. Musk regarding his plans to launch SpaceX for an IPO. He replied by stating that the company would be available for financing once it operates regular flights to Mars. Industry experts believe that the meeting would improve the relationship between him and shareholders of the company. The high-tech organization should now try its best to achieve all the objectives discussed in the conference to avoid any deviation from its track.