Here's the First Picture of the Tesla Model Y

Presented as a comparative table, it also shows how different the Model 3 is from the Model S. This confirms Elon Musk's announcement that it will be a model of a range less than His big sister.

Tesla Inc shares fell $1.54 (-0.44%) in premarket trading Wednesday.

The larger Model X had a bumpy start in life, with production times being prolonged due to things like the use of the Model S platform and the inclusion of those fancy falcon wing doors.

Musk used his forum at the Computer History Museum to review highlights of Tesla's past year and items it has in the works, answering questions sent to him via Twitter.

Musk told shareholders that potential buyers were getting "closely" involved in the final stages of the design process to ensure that Tesla's electric semi will be "specified to their needs". But 14-year-old Tesla has no experience making and selling vehicles in high volumes. Musk said that Tesla was now shopping designs around to large freight firms with positive reactions and that the firm would have more than just truck news to share later this year.

Tesla hasn't said how many people have put down $1,000 refundable deposits for the Model 3, but Musk said Tuesday customers who put down a deposit now won't get a auto until the end of 2018, indicating it could be as many as 500,000.

Another mistake Tesla made with the Model X was to offer buyers too many customisation options at launch, adding yet more complexity to the production line and slowing down the delivery of early cars.

According to Zigwheels, Tesla is collaborating with the tech company LG to make a 15-inch landscape touchscreen for the dashboard of the auto. Tesla was previously mulling the creation of the said electric vehicle on the same platform as the Model S/3 sedan.

We already know the Model 3 will have a significantly lower number of possible configuration compared to the Model S, and that's because production speed is vital for the new sedan. And while Tesla is promising to increase its network of stores and service centers by 30 percent this year, it began 2017 with just 250 service centers worldwide.

Of course, the US remains Tesla's most important market in term of total sales, but it's not impossible that it could change in the near future now that China is both the biggest auto market in the world and the biggest market for electric vehicles. According to Teslanomics, the average purchase price of the vehicle will be around $50,000 which is more than $42,000 average price predicted by Musk.

Automotive competitors like Mercedes and Volvo - not to mention tech companies like Google and Uber - can also match Tesla's efforts to develop self-driving vehicles.

Billionaire Elon Musk's Q&A sessions are traditionally the most entertaining part of Tesla's annual shareholders meeting, and this year's appearance did not disappoint.

  • Joe Gonzales