Tesla investors approve a three-for-one stock split as shares rebound

Tesla shareholders has approved a three-for-one stock split, a move that will make the company's shares more accessible to smaller investors.

Preliminary results of the shareholder vote were announced on Thursday at the electric car and solar panel maker's annual meeting at its new factory in Austin, Texas.

CEO Elon Musk also discussed at the meeting a major factory expansion in the future as the company moves toward a goal of making 20 million vehicles per year. It now produces around 1.5 million per year.

Musk said Tesla might announce another factory site this year, and it expects to have about a dozen