The Tesla (NASDAQ:TSLA) shareholder meeting for 2023 has come and gone and it included several bits of news traders will want to know about.
Let’s get into the biggest highlights from the annual meeting.
Tesla Shareholder Meeting 2023 Highlights
- First off, Tesla added prior Tesla Chief Technology Officer JB Straubel as an independent director of its board.
- Tesla CEO Elon Musk also said the company is on course to release production Cybertrucks by the end of the year.
- Musk says that once production begins, Tesla will be able to produce between 250,000 and 500,000 Cybertrucks per year.
- On a similar note, Musk said the Tesla Roadster introduced in 2017 may finally enter production in 2024.
- Also announced during the meeting were upcoming third-party audits of Tesla’s cobalt supply chain.
- Musk wants to conduct these audits to “ensure there is no child labor within any of Tesla’s cobalt suppliers.”
- The Tesla CEO also reassured investors that he would be spending less time at Twitter.
- Musk said his acquisition of the social media platform was a “short-term distraction.”
- He also addressed the current state of the economy, saying he expects it to remain weak for the next 12 months.
- While Musk believes many companies will go bankrupt during this time, he assured investors that Tesla is set for long-term success.
- During the 2023 Tesla shareholder meeting, Musk also said he will not be stepping down from Tesla, denying rumors that this was his plan.
- Musk also said that Tesla is considering doing a small amount of traditional advertising, as compared to its current form of untraditional advertising.
TSLA stock is up 3% as of Wednesday morning.
There’s more stock market news worth reading about below!
Investors seeking the latest stock market news for Wednesday are in the right place! Our coverage includes what to expect from Virgin Galactic (NYSE:SPCE) stock, more TSLA stock news and why EVgo (NASDAQ:EVGO) stock is dropping today. You can catch up on all of this news at the following links!
More Wednesday Stock Market News
- Dear SPCE Stock Fans, Mark Your Calendars for May 25
- TSLA Stock Alert: Tesla Eyes New EV Plant in India
- Why Is EVGO Stock Down 11% Today?
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.