Tesla held its annual shareholder meeting yesterday at the Computer History Museum in Mountain View, Calif.
Co-founder and CEO Elon Musk took to the stage to give a presentation about the state of the company and what he hopes to accomplish in the future through the development of the solar roof portion of the business, and the expansion of Tesla’s retail presence. Just to get a sense of the scale Musk has in mind, he has his eye on opening one store for every half million people.
This year, he said the company is aiming to double the number of Tesla superchargers available across the world and then possibly double that number again the following year. At the end of 2017, there are plans for there to be more than 10,000.
Related: 19 Weird Things We've Learned About Elon Musk
He also highlighted some new products on the horizon. The semi-truck prototype will be unveiled in September, and the Model Y vehicle will also be rolled out in 2017. In talking about the development of the previous models, he admitted that while he was excited about the Model Y, he was hoping to avoid missteps with this vehicle that he felt were made in the past.
“There’s been some criticism that we should sort of do it derived from the Model 3 platform. But I think actually, we made a mistake in trying to derive the Model X from the Model S platform” Musk explained. “It would have been better to just design an SUV the way an SUV should be designed. Design a sedan the way a sedan should be designed. Otherwise you’re just trying to shoehorn something in that doesn’t make sense.”
Related: The Key Traits of Elon Musk, Mark Zuckerberg and Meg Whitman
Towards the end of July, Musk said that a Model 3 configurator -- the options drivers have to customize their vehicle -- would be going live. He noted that with previous models, miscalculations were made on that front as well. He said that the biggest mistake the company made with the Model X was providing too many options for the customer right out of the gate.
“Going back to the launch of the Model S, it only had one configuration at start of production. It had one configuration because that was all we could do, not because we were really clever,” Musk explained. “Then Model X -- hubris extraordinaire. It’s really an amazing product, but it has way too many cool things in it that really should have been rolled in with version 2, version 3. That would have been the sensible way to do it. We got overconfident and created something great that probably will never be made again. And perhaps should not be.”
Related: Elon Musk Is Sending 2 Wealthy Individuals to the Moon
With those lessons in mind, there will be far fewer choices for the soon-to-be-released Model 3. Musk said in the early go, it’s going to be mostly selecting what color and what size wheels you prefer.
If a guy whose day job includes developing a global high speed charging network, sending reusable rockets into space, solving the world’s traffic woes and connecting humans with machines can admit he was wrong and move forward, we can all admit and learn from our mistakes as well.
Nina Zipkin is a staff writer at Entrepreneur.com. She frequently covers media, tech, startups, culture and workplace trends.
Relax If Elon Musk Can Admit His Mistakes, Then So Can You stories
How to cross more off your to-do list every day.
You don't stay at the top of the superhero game for 75 years without making a few pivots.
What makes these leaders stand out from the rest? IBM's Watson did some digging.
'Wonder Woman' is a hit at the movies. These business leaders are wonder women in the business world.
Reach your audience effectively without compromising quality.
Becoming a millionaire requires changing your mindset and implement some changes.
Best training ground for the C-suite isn't glamorous, just crucial.
Once you have defined success for yourself your path there will become apparent.
Meet the man tasked with running one of the iconic stand-up spots in the world.
Only pay attention to things that will matter in the long term.
A study of 700 American millionaires found that their average GPA was just 2.9.
A video depicts a test run inside one of the tubes Elon Musk hopes to spread across Los Angeles, offering sleds for cars to bypass congestion on roads overhead.
There's at least one major problem holding back this plan at the moment: tunnel boring is a ridiculously slow process.
Tesla CEO Elon Musk said the semi truck will be unveiled in September, while the pickup will be ready in 18 to 24 months.
They admitted that they blew it.
The billionaire has an affinity for what some might classify as childish things, and guess what? That's great.
Other improvements includes a beta feature that will automatically park your Tesla without you in it.
Transparency is key.
Not content with electric cars, launching rockets, and trying to travel to Mars, Elon Musk also wants to add AI to our brains.
Sears had the chance to beat Amazon at its own game. Instead, it closed stores and retrenched.
Musk took to Twitter to show off the new car and share some tidbits about its evolution.
If these innovative food startups get their way, the days of the slaughterhouse may be over.
Standard Innovation, which makes the We-Vibe vibrator, collected user data without permission, a lawsuit alleged.
A solar array and storage batteries on the island of Kauai is producing renewable energy for less per kilowatt hour than fossil fuel power stations.
Start getting the creative juices flowing, amateur advertising gurus.
News of the lawsuit follows allegations of sexism and sexual harassment at Uber.
Elon Musk's company is making space tourism happen.
Removing these words from your everyday can help you evolve into a stronger leader.
A CEO shares insights about why it's important to fire fast.
Founders who don't get the basics right are rewarded with the opportunity to learn from failure.
Alienware finally has monitors to match its gorgeous gaming machines.
Is Windows misbehaving? One diagnostic technique you can try is Safe Mode to see if you can narrow down the cause of the trouble.
The budget smartphone and its larger E4 Plus cousin offer respectable features for their bargain price tags, but come with a few compromises.
The "try before you buy" service will include health & fitness, digital imaging and smart home devices -- not drones.
Just 7 percent of sponsored posts from the top 50 most followed celebrities on Instagram are in compliance with the FTC's guidelines, according to a new study.
The long-awaited Xbox One X is coming Nov. 7 with a $499 price tag.
With 8TB, you could store the entire collection of games available with the new Xbox Game Pass, and still have room left over for your own collection.
Malware comes in many forms, but one thing's for sure—you don't want it attacking your computer. We've tested nearly 100 apps to help you find the right tools to protect your devices and your privacy.
The Better Together Update means you can play Minecraft with people on other platforms.
Tired of searching through hundreds of emojis for the perfect way to express yourself? Draw one with your finger and Google's keyboard app will match it.