Tesla CEO Elon Musk has just set some expectations for the company’s highly-anticipated Battery Day, set for Tuesday, September 22, 2020.
“Important note about Tesla Battery Day unveil tomorrow. This affects long-term production, especially Semi, Cybertruck & Roadster, but what we announce will not reach serious high-volume production until 2022,” said Musk on Monday afternoon.
“We intend to increase, not reduce battery cell purchases from Panasonic, LG & CATL (possibly other partners too). However, even with our cell suppliers going at maximum speed, we still foresee significant shortages in 2022 & beyond unless we also take action ourselves,” added Musk in a follow-up tweet.
Important note about Tesla Battery Day unveil tomorrow. This affects long-term production, especially Semi, Cybertruck & Roadster, but what we announce will not reach serious high-volume production until 2022.
— Elon Musk (@elonmusk) September 21, 2020
We intend to increase, not reduce battery cell purchases from Panasonic, LG & CATL (possibly other partners too). However, even with our cell suppliers going at maximum speed, we still foresee significant shortages in 2022 & beyond unless we also take action ourselves.
— Elon Musk (@elonmusk) September 21, 2020
Expectations are riding high for tomorrow’s Battery Day event, with the hype around announcements feeling like Steve Jobs about to unveil the next iPhone. Earlier this month, a leak of Tesla’s allegedly upcoming Roadrunner in-house batteries, increased hype about what was to come tomorrow, bringing the potential for longer-lasting batteries in future models, maybe even possible for a million miles.
Battery Day and Tesla’s annual shareholder meeting are set to be webcast starting at 1:30pm PT/4:30pm on September 22, 2020.
Shares of Tesla closed at $449.39 on Tuesday, up 1.64% for the day. After-hours trading is seeing nearly a 4% decline, as it appears markets aren’t happy with Musk’s Battery Day expectations.
…more to follow
