Tesla Inc. unveiled battery innovations and increased efficiencies that appeared to underwhelm investors late Tuesday at its much anticipated “Battery Day.”
“It does work but not [yet] with a high yield,” Musk said, adding that Tesla has set up a pilot battery plant in Fremont, Calif., to work through the challenges, with production “ramping up.”Long-term investors make their plans for a year away, and a three-year horizon is “just a long time,” said Gene Munster with Loup Ventures. “Everything they talked about had substance,” Munster said. “But investors wanted immediately.
Musk on Monday had already sought to tamp down Wall Street’s high expectations for the event, tweeting that some of the technologies to be revealed “will not reach serious high-volume production until 2022.”Tesla set out to completely rethink how cells are produced and designed, Musk, chief executive of not just Tesla but SpaceX, and Tesla’s senior vice president of energy engineering, Drew Baglino, said as they took the stage moments after the conclusion of the shareholder meeting.
Tesla shares had gained in the after-hours session during the shareholder-meeting portion of the day’s proceedings, mostly thanks to Musk’s saying that it was looking “promising” that the Silicon Valley car maker would post an annual profit and stay within its previous vehicle-delivery goals for 2020, while vowing to release a more advanced version of Autopilot, the company’s suite of advanced driver-assistance systems, “in a month or so.
Elon is 100% fraud if there isn't spacex
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Source: WSJ - 🏆 98. / 63 Read more »
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