Autos

Tesla shares fall as Musk dampens ‘battery day’ expectations

0


Elon Musk, CEO of Tesla, stands on the construction site of the Tesla Gigafactory in Grünheide near Berlin, September 3, 2020.

Patrick Pleul | picture alliance | Getty Images

Tesla shares sank 4% in premarket trading Tuesday, after CEO Elon Musk sought to manage expectations ahead of the electric carmaker’s “battery day” presentation.

Musk’s firm is expected to announce on Tuesday details about a new type of battery cell it has developed. Analysts had hoped the technology could help Tesla maintain its edge over rivals in the electric vehicle space, but Musk dampened such hopes Monday when he cautioned about hurdles to reaching mass production.

“Important note about Tesla Battery Day…



Source cnbc.com

Asian equity markets track Wall Street’s retreat as investors fret over coronavirus pandemic’s continuing economic toll

Previous article

Powell pledges the Fed’s economic aid ‘for as long as it takes’

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Autos