Elon Musk, founder of SpaceX, looks on at a launch news conference after the SpaceX Falcon 9 rocket with the crew Dragon spacecraft took off from the Kennedy Space Center in Cape Canaveral, Florida in March. 2, 2019.
Mike Blake | Reuters
At the company’s 2020 annual shareholder meeting and Battery Day presentation, Tesla CEO Elon Musk said vehicle deliveries are expected to increase by 30 to 40 percent over the previous year. Reported deliveries In 367,500 vehicles. This represents a delivery of 477,750 to 514,500 cars, a range that includes the 500,000 cars that the company previously said would be delivered this year.
Musk said that Tesla owners are trying to market their word to Tesla owners:
“We had 50% growth in 2019. I think we’ve done very well in 2020, maybe 30 to 40% growth, maybe in the midst of some very difficult conditions. I mean a lot – you know, like a bunch of pandemic and wildfires. Thanks to the team’s hard work and many innovative approaches to overcoming problems, we can still see significant growth in one of the most difficult… I say Tesla’s the most difficult year of its existence.
Musk also mocked upcoming updates to the company’s automated driving systems, which were marketed for $ 8,000 as a full self-driving option.
Due to the Kovid-19 health ordinance limiting the size of individual gatherings, the Tesla Annual Meeting was postponed from July 2020 to September 22nd. The company previously held shareholder meetings at the Computer History Museum in Mountain View, California, but moved to Fremont, where the U.S. Auto Assembly plant is headquartered. At the meeting, shareholders parked and sat in their cars, which Musk described as a “drive-in.”
The shareholder meeting coincided with the presentation of “Battery Day”, where Tesla confirmed that it was building its own battery cells at a facility in Fremont.
Drew Bagline, Tesla’s senior vice president of powertrain and energy engineering, described the new cells as “the big table cell”. The cells are larger than those purchased by Tesla from Panasonic and other suppliers, and offer “thermal benefits”, making them ideal for use in electric vehicles, which need to be charged quickly and consistently over a long period of time.
According to Tesla, the pilot plant aims to produce 10 gigawatt-hour battery cells a year. Musk commented that any cells produced in Fremont would be supplemented with 100 gigawatt-hour cells purchased from suppliers. The company also said it has acquired the rights to the batteries of the Nevada lithium clay deposit.
Musk warned on Monday that it had announced a breakthrough on battery day No way will be found for mass production Until 2021, the company’s stock is down 6% from Tuesday’s event.
Shares of the company fell more than 1% in the event, which took place after normal trading hours.
Those wishing to attend must obtain a winning lottery-style ticket (or other special entry) to the meeting. Alternatively, shareholders can access a website to ask questions to be answered in a live-streamed event.
Tesla’s Legal VP Al Prescott, at the company’s socially distant 2020 shareholders’ meeting, as participants hear in their cars.
After the last shareholder meeting in June 2019, Tesla’s longtime CTO JB Strobel resigned from the company. He worked there before Musk became CEO in 2008.
Tesla has appointed Hiromichi Misuno, chief investment officer of the Japan Government Pension Investment Fund and a critic of shortsellers, as its new board member. Venture capitalist Steve Jarvetson, a longtime Elon Musk associate and spokesman, is also stepping down from the Tesla board, yet he remains on the board of SpaceX, Musk’s aerospace venture.
Approved by the remaining board members in Tesla a Five for one stock split, Implemented by the company in August this year. The split comes as Tesla’s profits continue to be reported at a quarter. Musk clashed with health officials in California over Covid-19 restrictions that temporarily shut down their vehicle assembly plant in Fremont.
Stock division and a Big payout To Mussoorie as part of his unprecedented compensation package.
Tesla hopes to promote the availability of metals for batteries and to promote battery technology suitable for semi- and cybertruck vehicles, in a note to investors prior to the ConCord Genetics Analyst Z Dorshimer meeting:
“The big question is pursuing. Announcing all these advances is one thing, it may be better for momentum algorithms, but like most things, TSLA will be devilish in details, and it will take some time to play.”
Concord currently maintains a “hold” rating of $ 442 for Tesla shares.
The shares of the electric car manufacturer are increasing by 400% every year.
This is a developing story, please check back for updates.