Tesla Reschedules Battery Day and Annual Meeting for Sept. 22

Gatherings will be held at Tesla’s Fremont, Calif. manufacturing plant.
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Tesla Inc.  (TSLA) - Get Report said Friday it will hold its previously delayed annual meeting and “battery day” on Sept. 22, at its assembly plant in Fremont, Calif.

Both events had been postponed earlier this year because of the COVID-19 pandemic.

Tesla made the announcement in a filing with the Securities and Exchange Commission.

“Tesla will continue to monitor public health and travel safety protocols required or recommended by federal, state and local governments. If necessary or advisable to protect our personnel and stockholders, we will change the date, time, location and/or format of the 2020 Annual Meeting,” the company said in the filing.

Tesla is expected to showcase new longer-range batteries that will also have longer lifespans at the event, according to published reports. Such batteries would help cut costs for electric vehicles, helping to spur demand, and give Tesla an advantage in fending off competitors in the growing electric vehicle space.

Shares of Tesla have been on a tear in recent months, closing up $150.37, or 10.8%, at a record $1,544.65 Friday. The stock has more than tripled in value so far this year.

The company surprised U.S. markets last week by reporting better-than-expected second-quarter deliveries in spite of the pandemic. The Fremont plant had been closed for the first half of the quarter. CEO Elon Musk restarted production in mid-May, against local health authorities' guidance. However, Musk and county officials eventually worked out an agreement permitting manufacturing to continue. 

Deliveries from Tesla's Shanghai, China plant to the reopening Chinese economy contributed significantly to the deliveries data.