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The most-visible wins for Musk were Tesla shareholders voting for new, three-year terms for three Tesla directors: private-equity investor Antonio Gracias, a private equity investor; 21st Century Fox CEO James Murdoch; and Kimbal Musk, Elon Musk's food-entrepreneur brother.

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

One of the more dramatic moments of the meeting came when Musk narrowly survived an attempt to oust him from the position of chairman by one of the board's directors. Tesla's website says delivery for that configuration takes four to six months.

"We are incredibly excited to build the first Gigafactory outside the United States in China, specifically it is going to be in Shanghai", Ren said.

Musk repeated Tesla's contention that should Model 3 production ramp up as expected, profitability will follow. The last several months, he said, were the most "hellish" in his life.

Pioneering electric auto maker Tesla will not be making any electric motorcycles, Tesla's founder Elon Musk has said. What matters for now is that Tesla is close to hitting its target production numbers (finally!) for the Model 3 and it does begin to feel like the corner is being turned. The shareholder votes also went according to plan, although Kallo thinks the wide margin of the board re-election is a vote of confidence in current management.

Shareholder Jing Zhao, who owns 12 shares of Tesla, argued that Musk should be replaced with an independent chairman given Tesla's recent growth in a rapidly changing business sector and his other commitments to rocket company SpaceX and infrastructure firm The Boring Company. The shareholders ultimately voted to keep the three men on the board of directors. The rate of stationary storage deployment is going to grow exponentially.

The two positions are often held by the same person in United States companies, unlike in UK firms.

As Tesla's 'Autopilot' feature remains in the news for all the wrong reasons, the company is looking to release a free trial of its self-driving software in the coming months, in a bid to improve public trust in its capabilities. Addressing the attendees of the meeting, Musk noted that Tesla's energy projects would only get bigger every year.

Tesla will announce as soon as next month a combined battery production and vehicle assembly Gigafactory in Shanghai, China.


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