Tesla Battery Day: Elon Musk promises 'many exciting things’

Tesla’s Battery Day is coming up in less than a fortnight, and there are already speculations of what to expect from Elon Musk’s electric vehicle manufacturer. The annual meet of Tesla shareholders, also known as Battery Day, was earlier postponed due to the ongoing pandemic.

Tesla CEO Elon Musk speaks onstage during a delivery event for Tesla Model 3 cars at its factory in Shanghai. (File photo) (REUTERS)
Tesla CEO Elon Musk speaks onstage during a delivery event for Tesla Model 3 cars at its factory in Shanghai. (File photo)

Ahead of Battery Day on September 22, Tesla CEO Elon Musk has given hint of what is to be expected. He took to Twitter to share a one-liner message: ‘Many exciting things will be unveiled on Battery Day 9/22’.

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Earlier, Elon Musk had suggested that Tesla may be able to mass produce longer-life batteries with 50% more energy density in three to four years.

Musk may also reveal details about his company’s Roadrunner project, a proprietary battery cell manufacturing process, which debuted early this year.

Tesla is riding high on good show at the stock markets, recording 500% surge this year. As investors look to Battery Day that is expected to showcase Tesla's latest improvements, the company still faces a long development path requiring huge investment if it is to durably challenge the world's biggest manufacturers.

A rebound in Tesla Inc shares was set to extend into a third straight session on Friday, recouping more of a record 21% drop earlier this week that wiped $80 billion off the electric-car maker's market capitalisation.

Tesla shares were up 3.2% in trading before the bell, building on a 12.5% jump in the past two days in one of the most volatile weeks this year for technology-related stocks on Wall Street.

A very "limited number of stockholders" will be able to attend the Sept. 22 events due to pandemic-related restrictions, Tesla said, and a lottery will be held to select attendees.

First Published Date: 12 Sep 2020, 09:09 AM IST
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