Tesla Inc. TSLA, +1.98% Chief Executive Elon Musk said Tuesday that the car maker “has a small acquisition we need to complete” before launching an insurance product. Musk promised in April to launch a new insurance product in about a month. At the company’s annual shareholder meeting Tuesday, Musk was asked about the status of that project, and he still suggested that the launch was right around the corner. “Pretty close to being able to release that, we have a small acquisition that we need to complete and a bit of software to write, but it won’t be long before we release that,” Musk said. The notion of a car maker selling insurance has faced derision from analysts and observers as prominent as Warren Buffett, but Musk has said that Tesla can offer insurance “much more compelling than everything else out there.” Tesla shares were trading more than 3% higher in after-hours action Tuesday, as Musk contended there were no demand issues for his cars.