Elon Musk confirms Tesla may soon be going private

"I’m trying to accomplish an outcome where Tesla can operate at its best, free from as much distraction and short-term thinking as possible, and where there is as little change for all of our investors, including all of our employees, as possible."

The backdrop: Musk and Tesla have been under public criticism for months behind the delay of the Model 3 car and lackluster earnings reports.

Musk holds nearly 20% of the company's stock. If the company goes private, Musk says employees would ideally still be able to retain their shares.