Tesla expects significant shortages in 2022 and beyond, Musk cautioned, adding it intended to increase cell purchases from Panasonic, South Korea’s LG Chem, China’s CATL, and possibly other partners.
Tesla Inc CEO Elon Musk said improvements to be unveiled at the electric-vehicle maker’s ”Battery Day” event would not reach “serious high-volume production” until 2022, knocking its shares down.
Analysts were expecting Musk to unveil at the event plans for Tesla to produce its own battery cell as it seeks to cement its lead over General Motors, Volkswagen and others.
But in a post on Twitter ahead of the Tuesday event, Musk said: “This affects long-term production, especially Semi, Cybertruck & Roadster, but what we announce will not reach serious high-volume production until 2022.”
Tesla expects significant shortages in 2022 and beyond, Musk cautioned, adding it intended…