Despite all that, Musk quickly added that all the Model X's features add up to "the best car ever" — an extremely ambitious vehicle that no other automaker would dare attempt.
"I'm not sure Tesla would make a car like this again," he joked.
The Model X has received glowing reviews for some of its most innovative designs, such as a combination windshield-and-roof that's made of out a single pane of curved glass. It also has gull-wing doors that open upward and a "bioweapon defense mode" that filters out contaminants in the air in the event of a biological attack.
But analysts have downgraded Tesla's stock in recent months amid a "cautious start" for the Model X and worries about production rates. In the fourth quarter of 2015, Tesla said it delivered roughly 200 luxury SUVs and produced a little over 500. Tesla officials said Wednesday they expect production of the Model X — which is priced between $80,000 and $150,000 — to pick up momentum this year.
Musk also told investors that the electric car maker would finally make a profit this year, forecasting a 60 to 80 percent increase in vehicles sales. His remarks sent the company's shares soaring by 10 percent in after-hours trading, even though Tesla reported a wider than expected loss for the fourth-quarter. Revenue rose 59 percent from the same quarter in 2014, but the loss grew to 13 cents a share.
Investors are also eagerly awaiting next month's announcement of Tesla's Model 3, which will be marketed as a low-cost electric vehicle for mainstream consumers. The Model 3 is 20 percent lighter and "quite a bit less complex" to produce than even Tesla's Model S sedan, according to Musk.
The Model 3 will go for $35,000 but Musk clarified to Bloomberg News that this price does not include government tax incentives for electric vehicles -- which could drop the ultimate cost to $25,000. Some of the tax credits could phase out over time.
Meanwhile, other automakers are ramping up their own efforts at producing a mass-market electric car. At the Consumer Electronics Show in January, Chevrolet unveiled the Chevy Bolt, which has an estimated range of 200 miles on a single charge.