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Saturday, October 24, 2020

Elon Musk units expectations for Tesla’s Battery Day Occasion (NASDAQ:TSLA)

Elon Musk is out with some intriguing data proper in entrance of Tesla’s (NASDAQ:TSLA) Battery Day occasion tomorrow.

“Essential notice about Tesla Battery Day unveil tomorrow. This impacts long-term manufacturing, particularly Semi, Cybertruck & Roadster, however what we announce won’t attain critical high-volume manufacturing till 2022,” tweets Musk.

As for the battery provider concern, Musk says Tesla intends to extend battery cell purchases from Panasonic (OTCPK:PCRFY), LG Chem (OTCPK:LGCLF), CATL and presumably different companions as effectively.

“Nonetheless, even with our cell suppliers going at most pace, we nonetheless foresee vital shortages in 2022 & past until we additionally take motion ourselves,” he provides.

The implication is that robust EV demand is anticipated for the subsequent few years.

Shares of Tesla are down 5.71% in AH buying and selling to $423.46. Panasonic is up 0.75% in early Tokyo buying and selling.

Learn the Tesla Battery Day preview in Seeking Alpha’s latest article in the Stocks to Watch series.

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