June 22, 2020 / 3:49 AM / 11 days ago

Musk says Tesla 'Battery Day', shareholder meet likely on Sept. 15

FILE PHOTO: Tesla Inc CEO Elon Musk speaks at an opening ceremony for Tesla China-made Model Y program in Shanghai, China January 7, 2020. REUTERS/Aly Song

(Reuters) - Tesla Inc (TSLA.O) Chief Executive Elon Musk has said Sept.15 is the tentative date for the company’s shareholder meeting as well as “Battery Day”, at which the electric-car maker is expected to reveal significant advances in battery technology.

The battery event, which Musk has touted as being “one of the most of exciting days in Tesla’s history”, was previously scheduled for May, while the shareholder meeting was due on July 7.

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." (bit.ly/3dp1nlm)

The company did not confirm the Sept. 15 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 cell production system, Musk tweeted, without elaborating. (bit.ly/3fRpawd)

Tesla and China’s Contemporary Amperex Technology Ltd (300750.SZ) are jointly developing batteries designed to last a million miles of use and enable electric Teslas to sell profitably for the same price or less than a gasoline vehicle, people familiar with the plans have said.

With a global fleet of more than 1 million electric vehicles that are capable of connecting to and sharing power with the grid, Tesla’s goal is to achieve the status of a power company, competing with such traditional energy providers as Pacific Gas & Electric (PCG_pa.A) and Tokyo Electric Power (9501.T), those sources said.

Reporting by Subrat Patnaik in Bengaluru and Hyunjoo Jin in Seoul; Editing by Anil D'Silva, Edwina Gibbs and Arun Koyyur

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