On July 28th, Telsa (TSLA) CEO Elon Musk held a "handover party" for the brand new Model 3.  Thirty lucky employees received their sedans outside the automakers Fremont, CA factory.

The electric car CEO didn't hold back on jokes through the event, even taking a stab at Volvo's S60 5-Star rating.  "Their are a lot of cars that say they are 5-star. They are sort of 5-star. That's not a scientific metric. But something like the Volvo, great car, by normal standards very safe. The Volvo is arguably the 2nd safest car in the world."

Watch more on TheStreet:

Editors' Pick: This article was originally published on July 29, 2017. 

More from Video

Video: Here Is Why Carvana Isn't Worried About Amazon

Video: Here Is Why Carvana Isn't Worried About Amazon

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

REPLAY: Jim Cramer on the Markets, Oil, Starbucks, Tesla, Okta and Red Hat

REPLAY: Jim Cramer on the Markets, Oil, Starbucks, Tesla, Okta and Red Hat

Flashback Friday: The Market Movers

Flashback Friday: The Market Movers

This Could Be the Summer of Hard Seltzer

This Could Be the Summer of Hard Seltzer