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Musk announced plans to privatize the company last August, saying it had "got funds" to do it. It soon became clear that he had not actually obtained funding and he quickly abandoned those plans. But this claim had put him in trouble with the Securities and Exchange Commission, which sought to overthrow the company for misleading shareholders. Musk lost the position of president but remained as CEO. Meanwhile, a revolving door among other executives has seen some senior officers leave after only a few weeks or months of work.
And that's only the drama of the conference room.
Along the production line, the company has finally achieved delayed production targets for its best-selling model 3. This vehicle has become the best-selling American luxury car, which has resulted in the first profitable consecutive quarters of the company's history. But the loss of half a tax credit for buyers has resulted in the biggest drop in sales in the company's history and a much larger loss than expected in the first quarter of this year.
But Tesla advance: he has just raised more than $ 2 billion in shares and debt transfer to raise the necessary cash, he begins the construction of a factory in Shanghai and continues his plans for the model Y, an SUV to lower cost, as well as a semi truck and a van.
Such a tumultuous year could cause problems for the CEO facing his shareholders. But Musk will probably have a friendly reception at the meeting. Shareholders attending annual meetings are typically individual investors – not institutional investors, analysts or short sellers with whom Musk often fights.
Shareholders will be eager to learn more about these projects, especially for a new generation of products. Musk can expose his vision of the future.
The meeting will begin at 5:30 pm ET at the Computer History Museum in Mountain View, California. It's about 20 miles from the company's headquarters and the main factory. The meeting will be webcast.
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