Tesla’s “Battery Day” is here.
Unfortunately, the market isn’t too enthused about it – at the moment.
In fact, shares of TSLA are currently down more than 5%, or $24 a share.
All after Elon Musk dampened the mood, as he cautioned about hurdles to mass production. “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,” he tweeted.
“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.”
While that surely dampened the excitement, hopefully investors will be enthused at Tesla’s presentation later today. The company is still expected to unveil a number of advancements in its battery technology that could give it an advantage over its competition.
If you want to watch the Tesla livestream, you can do so at the Tesla.com site.
You can even submit questions related to battery technology right here.
According to reports, the Tesla shareholder meeting will begin at 1:30pm PT / 4:30pm ET, with the Battery Day event to follow.