Responding to a question about compact [Golf size] and sub-compact [Fiesta size] cars, Musk told the Tesla shareholders' conference: "I think we'll do a compact auto in less than five years".
"It's quite likely that we will achieve a 5,000-car week by the end of this month", said Musk.
As Electrek reports, the image was revealed yesterday alongside the latest Tesla shareholders meeting.
That goal has always been a moving target for the company, highlighting the troubles the electric vehicle startup has faced ramping up production of its first mass market auto.
"I actually used to ride motorcycles when I was a kid, dirt-biking for like eight years or something".
Tesla has plans to build a rival to the Volkswagen Golf, Ford Focus and Vauxhall Astra within five years. And an electric motorcycle from a company with Tesla's brand image would certainly have meant a lot of consumer interest, and possibly even sales for the electric auto company. And, of course, the belated growth in Model 3 production.
Earlier this year, in an earnings call, Musk said Tesla would cut expenses to help profitability, but didn't expound on those plans Tuesday. If any significant number of "remove" votes are received, it probably signifies an erosion of confidence in Musk on the part of big institutional investors. It also appears as though the Model Y, which will be roughly the size of the Model 3 sedan, will have a few more curves than the larger Model X, including a more sharply raked windshield.
He said the vehicle would be unveiled in March and begin production in 2020 along with Tesla Semi and the new Roadster. "But I think we're getting there". "This is something I'm trying to get better at".
Tesla has plenty of new products in the works, but one thing it will never build is a motorcycle, despite Elon Musk's penchant for biker jackets.
He said: "It's important for us to show with the Roadster that an electric vehicle can outperform a gasoline auto in every way".
Tesla shares (NASDAQ:TSLA) are up 6.21% on Wednesday's intraday, trading at $309.19 per share amid positive sentiments over the company's capability to meet its Model 3 production targets for Q2 2018 and its growing energy business.
Tesla said it delivered 26,150 vehicles total in the third quarter, a 4.5 per cent rise on the same period of 2016. That could cut the cost of the Model Y significantly and help assuage new buyers who may not receive a federal tax credit for their electric-car purchase.