NEW YORK (TheStreet) -- When Elon Musk, Tesla's  (TSLA) chief executive officer and product architect, announced Tuesday at his company's annual shareholder meeting that deliveries of the much-anticipated Model X SUV are expected to begin, he said they were likely to arrive in the third quarter.

"We're expecting to begin our first deliveries in probably about three or four months," Musk said. "I'm looking at the latest iteration of the Model X every week," he said. "It's turning out to be a really great car."

Added Musk: "The Model X may arguably be a better SUV than the Model S is a sedan."

Production of the Model X has been delayed several times from the original plans to begin in 2013. Musk said the company is working on ensuring that features like the Model X's falcon-wing doors and second-row seats are created properly. 

As far as pricing, the Model X is expected to cost roughly the same as an equally equipped Model S. Prices for the Model S sedan start at about $70,000.

Musk also announced a software upgrade for the Model S that will include autopilot driver-assistance technology and said the upgrade may become available to early-access customers at the end of this month.

He warned, however, that the first version of the autopilot technology is designed such that the driver ought to be paying attention to the road and ready to take over if an issue arises. The feature is intended to work similar to how the autopilot function works on an aircraft in alleviating the workload but still requiring the driver's attention.

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