Elon Musk: Tesla unveils “many exciting things”

An upcoming event Tesla (NASDAQ: TSLA) Investors have been watching for months that electric-car manufacturer has a “battery day”. While little is known about the incident, investors and analysts speculate that the company will improve battery chemistry and possibly increase supply commitments from battery partners. In fact, some analysts have also cited the 22 September Battery Day incident, which is an important reason for accelerating growth stocks.

Those who were betting on exciting news to come out of the event received some recognition on Friday from Tesla CEO Elon Musk. “Many exciting things will be unveiled on Battery Day 9/22,” Musk said. Twitter Friday morning.

Tesla Factory. Image Source: The Motley Fool

What did Tesla reveal?

We know a few things about the possibility of Tesla’s unveiling later this month – at least based on some teasers from CEO Elon Musk (via Electrake). When Musk was in Berlin, Germany, earlier this month, he said the company’s new factory in Berlin would feature “a bunch of innovative accessories”, including “a radical redesign of the original car-making technology”. . He noted that the company would unveil some people working in Berlin on Tesla’s upcoming Battery Day. “This is going to be the first time that the main structural design of a vehicle will change,” Musk said. “It’s a big deal.”

Meanwhile, there are rumors that the background image in Tesla’s invitation to its Battery Day event may tease a new nanowire technology for batteries that enable 50% higher energy density than standard lithium-ion batteries.

Finally, it is worth pointing out that Tesla’s Battery Day event will be held at a site where the company plans to work on a secret battery project for the new battery manufacturing system.

With a driving range of up to 402 miles on a single charge for Tesla’s flagship Model S and up to 322 miles on its more affordable Model 3, the company’s vehicles already have a meaningful driving range. Could new battery technology help Tesla push the limits even higher?

Elon Musk in a product program.

CEO Elon Musk at a Tesla Product Program. Picture Source: Author

Also a boon for Tesla’s energy business?

Of course, investors should not forget about Tesla’s nascent energy business, which includes solar energy and energy storage battery products. The company’s energy storage business, in particular, could potentially benefit from battery chemistry improvements. The company deployed 419 MW-hour energy storage capacity during the second quarter, driven by the gradual growth in sales of its residential and commercial-scale battery-storage products.

Long-term, Musk believes that the company’s energy-storage business can rival its automotive business.

Investors should, of course, view all these product rumors as speculation. But if there are any game-changing announcements at Tesla’s Battery Day event on September 22, Tesla could further strengthen its lead in the electric car market and strengthen its position as a force in the energy industry at large Can do.