Tesla delays its much-hyped 'battery day' and annual shareholder meeting until September because of the coronavirus (TSLA)

Graham Rapier

June 22, 2020 2:32 PM

Yasin Ozturk/Anadolu Agency via Getty Images

Tesla has delayed its battery day event again, along with its annual shareholder meeting, due to the coronavirus pandemic.
Both are now tentatively set for September to allow for in-person gatherings.
Elon Musk has promised the forthcoming battery event to be one of the "most exciting" in Tesla's history.
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Tesla has postponed its annual shareholder meeting, originally set for July, to September because of the coronavirus, chief executive Elon Musk said over the weekend.

The investor meeting will be combined with Tesla's planned "battery day" event, which was originally set for June in Texas after being delayed once before because of the pandemic, Musk said.

Tesla confirmed the plans in a regulatory filing Monday , and noted that the new date will be finalized at a later date.

It's not clear what, exactly, the company plans to highlight or unveil at its forthcoming battery event, but Musk has touted it as one of the "most exciting" in Tesla's history.

"We want to leave the exciting news for that date," he told investors in April. "There will be a lot of exciting news to tell."

Wall Street's eager to see what Musk has in store, and shares of Tesla continue to climb. The stock passed $1000 again in trading Monday, closing in on another record high.

"Cross-referencing market data supports expectations Tesla will disclose new benchmarks in energy density cell cost, cobalt-free and long-duration batteries, basically Part 3 of the 'Master Plan,'" analysts at Jefferies said in a note to clients. "Leading in Million-mile battery has profound implications for lower life-cycle emissions, vehicle design (powertrain life 2-3x longer than current ICE) and lower/delayed recycling requirements."

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