Tesla Battery Day Gets Mixed Reviews, But Musk Reveals New EV Technology

Shares of Tesla’s stock were down -10% following Tesla’s much-hyped Battery Day, quite possibly because many investors and stock analysts were expecting a big announcement, like the “million-mile EV battery” company CEO Elon Musk has been hinting at in his social media posts. Musk did offer insight into Tesla’s advances in battery construction and manufacturing process that, he says, will allow Tesla to sell an entry-level EV for $25,000 within three years. 

Electrical Marketing’s editors watched a video stream of the Battery Day event and enjoyed his presentation on Tesla’s new “tabless” battery construction, which he says will allow the company to dramatically increase battery life and cut down on manufacturing costs. We were also fascinated by his comments on the company’s new one-piece casting process that reportedly will eliminate 79 separate parts per car — utilizing what he says is the “largest casting machine every made.”

On a lighter note, the Battery Day presentation had a rather unusual audience. Attendees (mostly major Tesla stockholders) were all socially distanced in their Tesla cars in a gigantic parking lot. Whenever they liked what Elon Musk had to say they would honk their horns.

As EV sales increase, contractors and their suppliers will see more demand for EV charging stations in homes, parking lots and gas stations along interstate highways.