In another move to bolster investor confidence, Musk also revealed that Tesla is intent on producing more "affordable" vehicles, which are tipped to be based on (and look eerily similar to) the Model 3 and Model Y, but cost in the region of $30,000 to $40,000 (roughly £28,000 / AU$55,000). Not the $25,000 car that was rumored last year.

Elon Musk said Austin residents will be able to pay for a fully autonomous Tesla robotaxi ride in June, with an expansion to more US cities planned.

Tesla's robotaxis will be available for paid trips and operate without someone behind the wheel in existing Tesla models.