Tesla could move to traditional ads post its shareholder’s meeting

By Rahul Vaimal, Associate Editor
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Electric vehicle manufacturer, Telsa which has stayed away from conventional advertising mediums till now could move to those methods post its annual shareholder’s meeting and investor “battery day” this year.

Tesla has settled on a date for its delayed annual shareholder meeting and investor “battery day”. The meeting will be held in person on 22nd September at the company’s vehicle factory in Fremont, California, although it is also likely to be live-streamed.

Attendance will be strictly restricted to the owners of the company’s stock.

The annual shareholder meeting was scheduled to take place at the Computer History Museum in Mountain View, California, was initially scheduled for July 7th. The company had intended to make shareholders attend in person and watch online while also “tracking public health and travel safety measures mandated or approved by federal, state and local governments.”

Since COVID-19 has made it impossible for large groups to gather in California, CEO Elon Musk had announced his decision to postpone the meeting.

Musk previously said he was targeting September 15 “temporarily”.

A number of issues are likely to be discussed, voiced and voted upon during the meeting including whether the company should begin paying for traditional advertising.

Several of Tesla’s board members are also up for re-election, including chairwoman Robyn Denholm, who took over for three years after Musk was barred from heading any publicly traded company.

Musk was forced to withdraw as chairman for three years and pay a fine of $20 million to settle SEC’s (Securities and Exchange Commission) lawsuit against him. The SEC had sued Mr. Musk in federal court for misleading investors over his post on Twitter in 2018 for having “successfully secured” a $420 share buyout of the electric car maker.

The battery day event was initially planned for earlier this year but was also postponed due to the pandemic. Tesla is expected to reveal a number of advances in its battery tech that could give it an even bigger advantage over other electric vehicle companies.

Last month, Musk had said that Tesla will offer a tour of the “cell production system” of the company, which is probably a reference to the secretive “Roadrunner” project of the company in order to reduce the cost of making batteries while increasing volume.