Via Reuters Finance

FILE PHOTO: Tesla Inc CEO Elon Musk speaks at an opening ceremony for Tesla China-made Model Y program in Shanghai, China January 7, 2020. REUTERS/Aly Song

(Reuters) – Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk said on Sunday that Sept. 15 is the tentative date for the company’s shareholder meeting and its “Battery Day” at which it is expected to reveal significant advances in battery technology.

The battery event, which Musk has touted as being “one of the most of exciting days in Tesla’s history”, had previously been scheduled in May while the shareholder meeting was due to take place on July 7. Both were postponed due to the coronavirus pandemic.

The Battery Day event will include a tour of the company’s cell production system, Musk tweeted, without elaborating.

Tesla and China’s Contemporary Amperex Technology Ltd (CATL) (300750.SZ) are jointly developing batteries designed to last a million miles of use and enable electric Teslas to sell profitably for the same price or less than a gasoline vehicle, people familiar with the plans have said.

With a global fleet of more than 1 million electric vehicles that are capable of connecting to and sharing power with the grid, Tesla’s goal is to achieve the status of a power company, competing with such traditional energy providers as Pacific Gas & Electric (PCG_pa.A) and Tokyo Electric Power (9501.T), those sources said.

Reporting by Subrat Patnaik in Bengaluru and Hyunjoo Jin in Seoul; Editing by Anil D’Silva and Edwina Gibbs


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