Hyperdrive

Tesla Falls on Musk Cautioning Battery Output Is Years Away

CEO to unveil something that will be produced widely in 2022
In a tweet, Musk warns scaling up is extremely difficult

Tesla's Musk Wants to Build a $25,000 EV in Three Years

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By Gabrielle Coppola and Dana Hull

September 21, 2020 at 9:39 PM UTC

Updated on

September 22, 2020 at 2:00 PM UTC

This article is for subscribers only.

Elon Musk cautioned Tesla Inc. will unveil something that won’t be widely produced for two years, tempering expectations for the company’s long-awaited battery day.

Tesla shares fell as much as 6% and were down 5.2% at $425.97 as of 9:50 a.m. in New York. The pull-back comes after massive gains in recent months fueled in part by anticipation of Tuesday’s event. Musk said the information he’ll announce will affect production of Tesla’s Semi, Cybertruck and Roadster models, all of which have been unveiled in the form of prototypes but are still in development.