UPDATE 4-After much hype from Elon Musk, Tesla's 'Battery Day' kicks off [Reuters]
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Source: Reuters
After much hype from Elon Musk, Tesla's 'Battery Day' kicks off By Tina Bellon 3 Min Read (Reuters) - Tesla Inc TSLA.O CEO Elon Musk fired up fans and investors for the company's "Battery Day" on Tuesday, even as he tempered expectations that Tesla's electric vehicles will soon surpass the cost and convenience of traditional gasoline-powered cars. Ahead of the event and annual shareholders meeting, Tesla shares closed on Tuesday at $424.23, down 5.6% after Musk tweeted late Monday that the battery improvements to be unveiled at the event would not reach “serious high-volume production” until 2022. As automakers shift from horsepower to kilowatts to comply with stricter environmental regulations, investors are looking for evidence that Tesla can increase its lead in electrification technology over legacy automakers who generate most of their sales and profits from combustion-engine vehicles. Analysts expect Tesla to present a range of updates, including significant improvements
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