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Sober investors hope to get a buzz from Tesla’s ‘battery day’

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September 20, 2020 at 09:03AM

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Rumours of a leap forward in technology to be announced this week have energised an already bullish market

Carmakers’ annual meetings can be drab affairs: executives reading from a script, votes decided by big investors who don’t bother turning up, and perhaps the odd small shareholder deciding to take a pop at management. Tesla is different. This week’s event will be livestreamed around the world, with investor hype over what the company is teasing as its “battery day” reaching Steve Jobs/iPhone levels of fever pitch.

Tesla has already achieved astonishing things, almost singlehandedly spurring the car industry towards its electric future while growing its own revenues from $100m in 2010 to $24.6bn in 2019. Now investors hope that chief executive Elon Musk will be revealing a technological leap relating to battery power on Tuesday to put it further ahead of its rivals.

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