Tesla has announced its oft delayed annual shareholder meeting and Battery Day will happen on September 22. The shareholder meeting will take place at the company’s factory in Fremont, California, and will be an “in person” event that will be live streamed as well according to a company statement.
In addition, a separate Battery Day “in person” presentation will take place the same day, but not necessarily at the factory. Tesla says, “additional details to be announced at a later time.” We have speculated previously that the much anticipated event will take place just up the road from the factory at Tesla’s Kato Road facility.
The Shareholder Meeting
Tesla shareholders will be voting on several issues that concern the operation of the company. Several members of the company’s board of directors are up for re-election, including Robyn Denholm, who took over for Elon Musk as chair of the board after his infamous $420 tweet got him into hot water with the Securities and Exchange Commission. Musk has been barred by the SEC from serving as chair for three years.
Also up for discussion is a shareholder initiative that would require the company to begin advertising its products — something it has declined to do since its inception. The thinking behind the proposal is that it was all well and good to rely solely on word of mouth and social media to sell its cars when the company was small and was only selling thousands of cars a quarter, but the company should do more now to broaden its market.
As Tesla builds more factories and plans to sell millions of new cars each year, there is a fear that what has worked so far will not be enough to keep demand for its vehicles strong in the future. A quick look at Tesla’s stock trajectory so far this year should be enough to quell those concerns, one would think.
The world has been waiting patiently to hear about Tesla’s battery technology advances. On Battery Day, we should find out more about the company’s million-mile battery, its long-term Roadrunner project, and some indication about what wonders have emerged from the research conducted by Jeff Dahn at Dalhousie University in Halifax, Nova Scotia.
Tesla won’t be revealing any trade secrets, but it may pull back the curtain slightly on battery chemistry breakthroughs, tabless battery cells, and advanced cell production techniques. It should be quite a show!
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