Elon Musk at shareholder’s meeting September 22; courtesy of Tesla
During Tesla’s Tuesday shareholder’s meeting prior to the Battery Day event, CEO Elon Musk told shareholders that there will be “a little few extras, as well,” alluding to additional surprises at the day’s Battery Day event to follow.
In the company’s “Year in Review,” Musk shared some of Tesla’s most recent developments, including its expansion to 3 new continents within this year. Musk also talked about the company’s solar program and a slew of its other 2020 achievements. The meeting serves as a precursor the Battery Day event, in which Musk is expected to unveil a number of exciting new announcements. Of them, perhaps the most-anticipated is the reveal of a “million-mile” battery capacity improvement to future EVs.
Watch the 2020 Annual Shareholder Meeting and Battery Day here:
Among other exciting pre-Battery Day announcements, Musk announced the lowest cost of solar in the US, the achievement of Giga Shanghai ground-to-volume production within 15 months (also a factory that produces over $1 million USD per year), and 4 consecutive quarters of Generally Accepted Accounting Principles (GAAP) profit.
Alongside recent reports of single-cast pieces for a few of Tesla’s cars, Musk spoke at length about the significance of increased efficiency and how it would make a “massive difference” to ongoing cashflow generation. Having a factory in each continent also allows the EV giant to deliver efficiently throughout most of the world, without sacrificing time and physical space in between manufacture and consumer.
Tesla North is on standby for Battery Day updates, and we’ll keep you informed and updated as the day unfolds. Updates to follow.
