Tesla’s ‘Battery Day’: All of Elon Musk’s announcements and highlights

  • Tesla’s delayed shareholder meeting and “Battery Day” kicked off on Tuesday afternoon outside the company’s Fremont, California, factory.
  • Following a short formal portion of the meeting, CEO Elon Musk gave a review of the company’s progress over the past year with heavy emphasis on software and manufacturing. 
  • Musk touted new battery improvements that could make manufacturing cheaper and provide more power.
  • He also announced a yet-to-be-named future Tesla car that will be priced at $25,000 and a $140,000 “Plaid” version of its Model S.
  • Visit Business Insider’s homepage for more stories.

Elon Musk and other Tesla executives held an unusual outdoor version of the company’s annual shareholder meeting and a “Battery Day” presentation on Tuesday afternoon in Fremont, California.

Among the touted advancements in power technology and manufacturing, Musk announced a yet-to-be-named $25,000 Tesla car was in the works thanks to the cost savings in battery production that will touch

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Elon Musk tempers expectations for Tesla ‘Battery Day,’ stock dips 5%

(Reuters) – Tesla Inc TSLA.O CEO Elon Musk on Tuesday is scheduled to showcase the company’s advanced battery technology, with investors expecting he will outline how the company’s electric vehicles will surpass the cost and convenience of internal combustion engines.

FILE PHOTO: Tesla Inc CEO Elon Musk speaks onstage during a delivery event for Tesla China-made Model 3 cars at its factory in Shanghai, China January 7, 2020. REUTERS/Aly Song

But stockholders began selling the electric carmaker’s shares after Musk late on Monday tempered expectations by saying that the battery improvements to be unveiled at the event would not reach “serious high-volume production” until 2022. Shares dropped 5.6% on Tuesday to $424.26.

As automakers shift from horsepower to kilowatts to comply with stricter environmental regulations, investors are looking for evidence that Tesla can increase its lead in electrification technology over legacy automakers who generate most of their sales and profits

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Tesla Teases Big News On ‘Battery Day’

Tesla chief Elon Musk has promised “insane” battery news at a streamed event after the company’s annual shareholders’ meeting on Tuesday.

Speculation includes that Tesla will announce it has come up with ways to pack more energy into battery cells, slash production cost and dramatically extend battery life.

Musk, however, seemed to tap the brakes a bit on expectations in a tweet Monday, saying announcements will affect long-term production, particularly of Tesla’s Semi, Cybertruck and Roadster models.

Innovations will not reach “serious high-volume production” until the year 2022, according to Musk.

In response to a Teslerati.com story shared on Twitter contending that the battery announcement might be “more insane than expected,” Musk fired off a comment saying, “It will be very insane.”

In a tweet earlier this month, Musk promised “many exciting things will be unveiled on Battery Day.” He finished the message with a lightning bolt emoji.

Tesla CEO Elon Musk (pictured September 3, 2020) said he would announce "insane" battery news that will affect long-term production, particularly of Tesla's Semi, Cybertruck and Roadster models Tesla CEO

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Tesla’s ‘Battery Day’ tech won’t scale up until 2022, Elon Musk says

  • Tesla’s “Battery Day” tech won’t reach large-scale production until 2022, Elon Musk tweeted on Monday.
  • The electric vehicle company will buy more battery cells but expects “significant shortages” in the future. Analysts expect Tesla to announce plans to produce its own battery cells at the event.
  • Premarket Tesla shares dropped following Musk’s tweets.
  • Visit Business Insider’s homepage for more stories.

The tech Tesla announces at its “Battery Day” on Tuesday won’t reach large-scale production until 2022, the electric vehicle giant’s CEO Elon Musk said on Monday.

Musk said that Tesla will buy more battery cells from Panasonic, LG, and Chinese battery manufacturer CATL, but it expects “significant shortages” in 2022 and beyond, and must “take action” to prevent them, he said. This suggests that the company may announce plans to produce its own battery cells at its Battery Day, as analysts have long-speculated.

Scaling up production of new battery technology

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