TSLA - Elon Musk sets expectations for Tesla's Battery Day Event

Elon Musk is out with some intriguing information right in front of Tesla's (TSLA) Battery Day event tomorrow. "Important note about Tesla Battery Day unveil tomorrow. This affects long-term production, especially Semi, Cybertruck & Roadster, but what we announce will not reach serious high-volume production until 2022," tweets Musk. As for the battery supplier issue, Musk says Tesla intends to increase battery cell purchases from Panasonic (PCRFY), LG Chem (LGCLF), CATL and possibly other partners as well."However, even with our cell suppliers going at maximum speed, we still foresee significant shortages in 2022 & beyond unless we also take action ourselves," he adds. The implication is that strong EV demand is anticipated for the next few years. Shares of Tesla are down 5.71% in AH trading to $423.46. Panasonic is up 0.75% in early Tokyo trading.Read the Tesla Battery Day preview in Seeking Alpha's latest article in the Stocks to Watch series.

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Elon Musk sets expectations for Tesla's Battery Day Event