TSLA
Tesla Battery Day: Promises for battery breakthroughs, $25K EV
- *6:45 p.m.* - Shares of Tesla are down 5.78%, with some of the battery
innovations described as close to working but not quite operational. The
long-term story is in play, but investors may see that already priced in.
General Motors (NYSE:GM) and Ford (NYSE:F) are slightly higher in the
late session, with a knockout punch from Fremont not quite delivered.
- *6:41 p.m.* - Stacking up the benefits of all Tesla's vertical
integration is expected to lead to a 56% dollar per kWh reduction in
costs
and unlock a range increase of 54%. Tesla says it wants to make 20M
vehicles a year in the long term and aims to get to the $25K price point
with full autonomy. The plaid Model S is introduced for delivery next
year.
- *6:34 p.m.* - Batteries will be used as structural parts of Tesla cars
to feather out the load and create a stiffer structure, which Musk says
will be the standard for all EVs in the future.
- *6:20 p.m.* - Nickel (LN1:COM) gets a shoutout as the upside of the
metal for battery production is explained, especially for the Cybertruck
and Semi models.
- *6:15 p.m.* - Tesla will continue to buy from battery cell suppliers,
but is planning on 3TWh battery capacity by 2030 by supplying itself.
Shares of Tesla are up 0.61% AH.
- *6:10 p.m.* - Elon Musk says Tesla will be head and shoulders over
everyone else in manufacturing even as the rest of the industry pours out
long-range EVs.
- *6:01 p.m.* - Tesla says its new 80mm cell has 5X the energy, 16% more
range and 6X the power. Production has already ramped up on the new cell.
- *5:52 p.m.* - After breaking down the expectation for huge demand for
renewable energy and batteries, Musk notes that today's battery factories
cannot scale fast enough, requiring advances in cell technology. The goal
is to lower the cost of cells (k/Wh) and, ultimately, the prices of cars
to
make them accessible to all. Tesla says it has a plan to halve the cost
of
batteries.
- *5:24 p.m.* - The Tesla (NASDAQ:TSLA) Battery Day event is about to
begin in Palo Alto, California. The event is taking place outside with
shareholders sitting in Tesla cars. During the wrap-up part of today's
shareholder meeting, CEO Elon Musk reiterated that the Shanghai
Gigafactory
can be scaled up to produce 1M cars a year. Tesla reiterates that it
expects vehicle deliveries to increase 30-40%. There was also a victory
lap
taken for the four consecutive profitable quarters turned in by the
company
despite a difficult production environment. Shares of Tesla are up 2.30%
in
AH trading just ahead of the meeting, after falling 5.60% during the
regular session. Tesla is up more than 400% YTD.
- Refresh this page for more live updates as the main event plays out.
- Read what bulls and bears say about Tesla.
|Yesterday, 5:24 PM|590 Comments
Tesla Battery Day: Promises for battery breakthroughs, $25K EV
- *6:45 p.m.* - Shares of Tesla are down 5.78%, with some of the battery
innovations described as close to working but not quite operational. The
long-term story is in play, but investors may see that already priced in.
General Motors (NYSE:GM) and Ford (NYSE:F) are slightly higher in the
late session, with a knockout punch from Fremont not quite delivered.
- *6:41 p.m.* - Stacking up the benefits of all Tesla's vertical
integration is expected to lead to a 56% dollar per kWh reduction in
costs
and unlock a range increase of 54%. Tesla says it wants to make 20M
vehicles a year in the long term and aims to get to the $25K price point
with full autonomy. The plaid Model S is introduced for delivery next
year.
- *6:34 p.m.* - Batteries will be used as structural parts of Tesla cars
to feather out the load and create a stiffer structure, which Musk says
will be the standard for all EVs in the future.
- *6:20 p.m.* - Nickel (LN1:COM) gets a shoutout as the upside of the
metal for battery production is explained, especially for the Cybertruck
and Semi models.
- *6:15 p.m.* - Tesla will continue to buy from battery cell suppliers,
but is planning on 3TWh battery capacity by 2030 by supplying itself.
Shares of Tesla are up 0.61% AH.
- *6:10 p.m.* - Elon Musk says Tesla will be head and shoulders over
everyone else in manufacturing even as the rest of the industry pours out
long-range EVs.
- *6:01 p.m.* - Tesla says its new 80mm cell has 5X the energy, 16% more
range and 6X the power. Production has already ramped up on the new cell.
- *5:52 p.m.* - After breaking down the expectation for huge demand for
renewable energy and batteries, Musk notes that today's battery factories
cannot scale fast enough, requiring advances in cell technology. The goal
is to lower the cost of cells (k/Wh) and, ultimately, the prices of cars
to
make them accessible to all. Tesla says it has a plan to halve the cost
of
batteries.
- *5:24 p.m.* - The Tesla (NASDAQ:TSLA) Battery Day event is about to
begin in Palo Alto, California. The event is taking place outside with
shareholders sitting in Tesla cars. During the wrap-up part of today's
shareholder meeting, CEO Elon Musk reiterated that the Shanghai
Gigafactory
can be scaled up to produce 1M cars a year. Tesla reiterates that it
expects vehicle deliveries to increase 30-40%. There was also a victory
lap
taken for the four consecutive profitable quarters turned in by the
company
despite a difficult production environment. Shares of Tesla are up 2.30%
in
AH trading just ahead of the meeting, after falling 5.60% during the
regular session. Tesla is up more than 400% YTD.
- Refresh this page for more live updates as the main event plays out.
- Read what bulls and bears say about Tesla.
|Yesterday, 5:24 PM|590 Comments
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