Tesla To Hold its Battery Day on Sept 15th, Elon Musk Touts it as ‘One of the Most of Exciting Days in Tesla's History'
Tesla Chief Executive Elon Musk has been hinting at a new game-changing battery technology since last year. Tesla said it would unveil it sometime in 2020 at the company's "Battery Day" which was originally scheduled for May. However the coronavirus pandemic forced Tesla to change its plans and now its appears it will happen in September.
Musk wrote in a tweet on Sunday night that Sept.15 is the tentative date for the company's shareholder meeting as well as Tesla's much anticipated "Battery Day", at which the electric-car maker is expected to reveal significant advances in its EV battery technology. The shareholder meeting was pushed ahead from its July 7 date.
Tesla said in a regulatory filing on Monday it was postponing the shareholder meeting "due to continuing restrictions on in-person gatherings imposed by the relevant governmental authorities." The company was referring to the CDC guidelines for social distancing to fight the coronavirus pandemic.
Tesla did not officially confirm the Sept 15th date in the filing, but attached an image of Musk's tweet from Sunday night and said it will announce details, including the date, location and format at a later date.
The Battery Day will include a tour of the company's battery cell production system, Musk wrote in a second tweet on Sunday night, without providing any further details.
Tesla and Chinese battery maker Contemporary Amperex Technology Ltd (CATL) are jointly developing lower cost but more powerful batteries designed to last a million miles or more. If accurate, Tesla could sell its vehicles profitably for the same price or less than a gasoline vehicle, people familiar with the plans have said.
Tesla is also working on other battery technology with CATL and is also expected to announce some updates on their progress.
Last year, Tesla purchased San Diego-based Maxwell Technologies for $218 million in an all-stock deal. Maxwell is a developer of battery solutions, with a strong focus on supercapacitors, also called "ultracapacitors", as well as electric vehicle battery cells. Supercapacitors can store and rapidly deliver surges of electrical energy.
According to Maxwell, ultracapacitors are generally designed to complement conventional batteries and it is more common for them to be paired in applications. The power of ultracapacitors combined with the energy of EV batteries can enable rapid response times, extend operational temperature range and lengthen battery life by up to two times.
In a 2013 tweet, Musk said he had planned to conduct research on ultracapacitors at Stanford University and said that the technology could be a "bigger breakthrough in electric vehicle technology than batteries."
In addition to Tesla's progress with CATL, some of Maxwell's battery technology may eventually end up in Tesla's vehicles.
We'll have to wait until September to learn more.
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