Tesla Motors, Inc. 's TSLA CEO Elon Musk revealed a couple of interesting tidbits at its annual meeting on Tuesday. Firstly, he announced that buyers of the base version of the company's latest car, Model 3, will not get free use of its Superchargers. They may have to purchase a package to use these high-speed chargers, although the cost will be very low compared to gasoline.
Tesla's Superchargers are industrial-grade, high-speed chargers that can revive 50% of the battery of a Model S in 20 minutes and provide full charge in 75 minutes. On the other hand, normal charging stations take as much as 9 hours for a full charge.
Musk also revealed that two software updates coming in June and July will fix the problems in Model X's falcon wing doors. He believes that these updates will make them better than normal doors.
The software updates should be welcome news for Model X owners who have been bugged by a series of issues. One car owner recently filed a lawsuit in California seeking a refund for his Model X.
Tesla currently carries a Zacks Rank #3 (Hold). Some better-ranked automobile stocks include Lear Corp. LEA , Superior Industries International, Inc. SUP and Oshkosh Corporation OSK . All the three stocks sport a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
