(Updated - September 21, 2020 5:09 PM EDT)

Tesla's (NASDAQ: TSLA) Elon Musk said he intends to increase, not reduce battery cell purchases from partners, but even with cell suppliers going at maximum speed, he sees significant shortages in 2022 and beyond unless the company takes action.

Musk also said what the company announces will not reach serious high-volume production until 2022.

The company's highly anticipated Battery Day is scheduled for tomorrow.