Tesla CEO Elon Musk said the electric carmaker will unveil many existing things on September 22. The annual meet of Tesla shareholders, also known as Battery Day, was postponed several times due to the ongoing coronavirus pandemic. The company will now reportedly conduct shareholders meeting virtually with some limited in-person attendance.
Sharing a one-liner, Musk tweeted:
Tesla is expected to shed light on its plan to secure battery cell supply to support its ambitious ramp-up of electric vehicle production, according to Electrek. Batteries are the most expensive and important component of electric vehicles (EV).
Musk in a recent earnings conference call had said the real limitation to Tesla's growth is battery cell production at an affordable price. The automaker has developed its own battery cell manufacturing process called Roadrunner.
Meanwhile, Tesla's stock has jumped almost 500 percent this year, while shares of General Motors Co and Ford Motor Co fell due to fallout from the COVID-19 pandemic. Musk's net worth, too, crossed $100 billion on August 26, making him one of the world's four centibillionaires.
Musk's wealth rose to $101 billion after a rally in Tesla's share price as stock splits took effect and attracted more buying from investors, according to the Bloomberg Billionaires Index. Tesla's stock has surged over 70 percent since its split was announced on August 11.
Musk's net worth has swelled by $73.6 billion in 2020, the report said. Interestingly, the Tesla founder-CEO, who is the world's fourth-richest person, does not take home a salary, and his compensation mostly relies on stock options.
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