The global economy is expected to face a challenging period, according to Elon Musk of Tesla.

Tesla CEO Elon Musk held a shareholder meeting in Austin, Texas, where he acknowledged the difficult economic environment that the company will face over the next 12 months. However, he also promised that a turnaround will come within that time frame and that long-term investors in Tesla will do well. Musk surprised shareholders by announcing that Tesla will start advertising, despite famously avoiding traditional marketing in the past. He also teased two upcoming new products that he says will be better than anything else on the market today. The company’s several-delayed electric pickup truck, the Cybertruck, is on schedule for a 2020 release.

During the meeting, shareholders confirmed the appointment of former CTO JB Straubel to the company’s board of directors. Some shareholders had questioned the nomination, citing concerns about the board’s workload and third-party access to the company’s cobalt supply chain. Failed proposals for an audit of the chain have ended.

Tesla’s shares edged higher in extended trading on Tuesday but oscillated between gains and losses following Musk’s comments about economic troubles. The original content was created by MarketWatch, operated by Dow Jones & Co., and published independently of The Dow Jones Newswires and The Wall Street Journal.

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