During the 'battery day' portion of the presentation, Tesla confirmed that it is making its own battery cells at a facility in Fremont.
At Tesla's 2020 shareholder's meeting, Tesla CEO Elon Musk said that the company's vehicle deliveries in 2020 would be up 30% to 40% from last year, a range that encompasses its previous prediction of 500,000 cars delivered this year.
SpaceX founder Elon Musk looks on at a post-launch news conference after the SpaceX Falcon 9 rocket, carrying the Crew Dragon spacecraft, lifted off on an uncrewed test flight to the International Space Station from the Kennedy Space Center in Cape Canaveral, Florida, March 2, 2019.Tesla CEO Elon Musk said on Tuesday he expects vehicle deliveries to increase by 30 to 40 percent over last year, when the companyof 367,500 vehicles.
The company's shares dropped more than 6% during the presentation, which took place after normal trading hours. Joining Musk on stage, Tesla's senior vice president of powertrain and energy engineering, Drew Baglino, described the new cells as a "large tabless cell," with a "shingled spiral" design. The cells are larger than the ones Tesla purchases from Panasonic and other suppliers, and offer "thermal benefits" which make them appropriate for use in electric vehicles.
Near-term, Tesla says it aims to produce 10 gigawatt hours worth of its new battery cells at its pilot plant within a year. Musk noted that whatever cells it produces in Fremont would be supplemental to 100 gigawatt hours worth of cells it buys from suppliers. The company also said it had secured rights to a lithium clay deposit in Nevada to mine for its batteries.until 2021, sending the company's stock down about 6% ahead of the event on Tuesday.
Since its last shareholder meeting in June 2019, Tesla's long-time CTO JB Straubel resigned from the company. He worked there from the start, even before Musk took the CEO reins in 2008.
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