Tesla shares fall as Musk dampens ‘battery day’ expectations


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…


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