Tesla Shareholders Meeting, 'Battery Day' Moved To September

Tesla Inc. TSLA has moved its annual shareholders meeting tentatively to September 15, the company's Chief Executive Officer Elon Musk announced on Twitter late Sunday.

What Happened

The billionaire entrepreneur said the automaker's touted "Battery Day" will happen on the same day at its Fremont factory, and will include a "tour of [the] cell production system."

The Palo Alto, California-based company, had initially scheduled the shareholders meeting for July 7 at the Computer History Museum in Mountain View.

Why It Matters

On Friday, Musk had announced that the Tesla shareholder meeting will need to be delayed by a month or so since "no large gatherings" were still allowed by the originally scheduled date due to the novel coronavirus (COVID-19) pandemic.

The Tesla CEO also said the company was considering hosting the battery day the same day as the shareholders meeting because they were "converging in time."

The electric vehicles maker has been teasing an event, where it will display some of its recent technical advancements in batteries, since November last year, as reported by Electrek.

Price Action

Tesla shares closed 0.3% lower at $1,000.90 on Friday and dropped another 0.9% in the after-hours session at $991.90.