Elon Musk says Tesla shareholder meeting and ‘Battery Day’ tentatively set for Sept. 15

Nora Tam | South China Morning Post | Getty Images

Tesla CEO Elon Musk tweeted that the company is aiming to hold its shareholder meeting as well as a highly anticipated “Battery Day” on Sept. 15.

“Tentative date for Tesla Shareholder Meeting & Battery Day is Sept 15. Will include tour of cell production system,” Musk said in his tweet late Sunday.

The message came two days after he said the electric car maker would have to postpone its annual shareholder meeting due to the coronavirus outbreak. The event had been scheduled for July 7.

Tesla is facing pressure from proxy advisors Glass Lewis and Institutional Shareholder Services, who are urging shareholders to vote to oppose the reelection of Robyn Denholm as board chair.

The proxy advisors have expressed concerns over Tesla’s high compensation for directors, and a steep rise in the number of shares pledged by Tesla directors and executives, including Musk, since Denholm was appointed chair in November 2018.

Denholm replaced Musk as chairman after he was forced to give up the role as part of a settlement with the Securities and Exchange Commission over his now infamous tweets saying he had secured funding to take Tesla private at $420 per share.

Regarding the Battery Day, Musk has been promising to reveal significant advances in the company’s battery technology for months. 

Reuters reported in May that the company plans to introduce a new low-cost, long-life battery in its Model 3 sedan in China later this year or early next and expects it will bring the cost of electric vehicles in line with gasoline models.

— CNBC’s Lora Kolodny contributed to this report.

Published at Mon, 22 Jun 2020 16:20:28 +0000-Elon Musk says Tesla shareholder meeting and ‘Battery Day’ tentatively set for Sept. 15

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