How Tesla Reaffirmed Investors' Faith At Annual Shareholders' Meeting

Tesla Motors Inc TSLA had its annual shareholders' meeting on Tuesday, where the company briefed investors on the delivery schedule of Model X and the progress the company has made in autopilot.

Andrew Cupps, Cupps Capital Management Company, was on CNBC recently to share his key takeaways from the shareholders’ meeting.

More Share Gains

"Tesla has featured, has brought to the markets – both the economic markets and the financial markets – a pace of change that has just never been touched by the rest of the industry," Cupps said. "And that drives directly to share gains."

Cupps went on, "Today, the company accounts for about 2 percent of the equity value of the global industry. It deserves more than that over time, I am fairly certain."

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Affirmation Of X Launch Is Great

Cupps was asked his key takeaways from the annual shareholders' meeting. He replied, "There's a few of them. I think that a basic affirmation of the X launch is great; that’s the second major platform.

"I like the phrase, I think the guy at Morgan Stanley coined, where the Model S is the worst car that Tesla will ever produce, which is a major, major compliment as you think about it. The X is the second major platform, and it should be outstanding and should earn a lot of credit then for Gen 3."

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Taking Lead In Semi-Autonomous Category

"But, I think one of the things that’s really, really important and not talked a whole lot about is the semi-autonomous features that the company is also turning on in the next few weeks," Cupps said.

"They are leading in that category, and we think that category – semi-autonomous driving features, safety features, etc. – is kind of the new battlefront of the high-end auto industry. And lo and behold, here we are again. Tesla is leading in that category as well," Cupps concluded.