- Tesla’s delayed shareholder meeting and ‘Battery Day’ kicked off on Tuesday afternoon outside the company’s Fremont, California factory.
- Elon Musk is expected to give updates on the company’s progress and future products.
- We’ll update this post with all the important developments. Check back for updates.
- Visit Business Insider’s homepage for more stories.
Tesla executives kicked off an unusual, outdoor version of the company’s annual shareholder meeting and a “Battery Day” presentation on Tuesday afternoon in Fremont, California.
The delayed event had severe attendance restrictions in place due to Covid-19. A few randomly selected shareholder attendees are watching the proceedings from long rows of parked Tesla cars.
Elon Musk is expected to announce updates on its battery technology, as well as manufacturing processes and plan for future products. However, Musk on Monday tempered expectations for the event slightly, warning that large-scale production of the announcements might not arrive until 2022 due to supply constraints.
Still, analysts expect important updates on Tesla’s progress to bring down manufacturing costs and develop more powerful and longer-lasting batteries.
Tesla’s vice president of legal, Al Prescott, called the first part of the afternoon to order around 1:50 p.m. local time. There are seven items on which shareholders will vote, including the election of three directors, executive compensation, and ratification of its outside accounting auditor. Four other proposals, including one about Tesla’s forced arbitration policies, are not expected to pass and were opposed by the company’s board of directors.
The formal stockholders meeting adjourned shortly after 2 p.m., and will be followed by a year in review by CEO Elon Musk.
We’ll be updating this post as the event progresses. Check back for updates.
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