Tesla’s entire Board of Directors, with the exception of CEO Elon Musk, has reportedly agreed to pay a $60 million settlement to resolve a shareholder lawsuit relating to the company’s purchase of SolarCity.
According to a recent report, Tesla solar panel owners across Massachusetts have had issues receiving customer support for their panels, with some left waiting almost a full year without any help from Elon Musk’s company.
In a recent article, Bloomberg discusses how Tesla’s 2016 purchase of SolarCity Corp. could be one of the biggest mistakes the company has ever made.
Unsealed court documents show that Tesla shareholders are claiming that Elon Musk and Tesla withheld critical details about SolarCity and its relationship with SpaceX during Musk’s push to convince Tesla’s board and shareholders to acquire his cousin’s struggling solar power company, which Musk himself was the largest shareholder of.
Another set of Tesla-produced residential solar panels have reportedly caught fire on a home in Louisville, Colorado.
Tesla CEO Elon Musk has been deposed in a class-action lawsuit relating to Tesla Inc’s $2.6 billion acquisition of SolarCity in 2016. As part of the deposition, Musk claimed he could not be recused from discussions about acquiring SolarCity, which he was both chairman and the largest shareholder of, because “I needed to voice my opinion, obviously.”
Following reports of Tesla solar panels catching fire at Walmart and Amazon locations, residential owners are now claiming that Tesla solar panels on their homes are now causing fires.
E-commerce giant Amazon has backed up claims by retailer Walmart that Tesla solar panels caught fire at multiple Walmart locations across the United States by claiming that it experienced its own fire related to the solar panels at a warehouse in California.
Vanity Fair outlined in a recent article how Tesla CEO Elon Musk employed a number of questionable tactics in order to purchase the floundering solar power company he was both the largest shareholder of, SolarCity. In the opinion of former Tesla employee Dennis Scott, who worked at the company’s beleaguered “Gigafactory 2” in Buffalo, New York, Musk is “full of shit.”
Tesla reportedly initiated a plan called “Project Titan’ last summer in which the embattled company attempted to replace defective solar-panel parts across the U.S. without telling anyone.
Retail giant Walmart is suing Tesla over a number of roof fires at multiple Walmart stores which the company claims were caused by Tesla solar panels.
Tesla has reportedly cut its solar panel prices in an attempt to slow the decline of the companies solar business. In some locations, Tesla’s prices are now 38 percent below the national average. If the solar business continues to flounder, it could have major implications for Tesla’s taxpayer-supported operations in Buffalo, New York.
Tesla’s former president of global sales and services will reportedly be questioned by lawyers for pension and investment funds who believe that Tesla CEO Elon Musk lied when convincing them to back his $2.6 billion buyout of SolarCity.
Elon Musk’s Tesla Energy Solutions will reportedly pay back $13 million to the state of Oregon after it was determined that the company inflated the price of its 14 commercial-scale solar projects by more than 100 percent in order to qualify for higher state tax credits.
Elon Musk’s electric-car manufacturer Tesla has reportedly failed to deliver on the majority of its solar roof tiles while also enlisting the help of unpaid volunteers to work in Tesla dealerships as the company attempts to exit “logistics hell.”
Former employees of Tesla-owned SolarCity have alleged in a lawsuit that the company reported millions in fake sales in order to overvalue the company for investors.
Tesla finally confirmed that the company’s “Solar” division will end a partnership with Home Depot and close about 20 percent of its installation centers.
Electric car manufacturer Tesla reportedly plans to close a dozen solar facilities in nine states in the U.S.
Tesla recently announced the largest quarterly loss in the company’s history and stated that they would be slashing production on their Model X and Model S cars to focus resources on the development of their Model 3 vehicle.
Tesla and SpaceX CEO Elon Musk camped out on the roof of his “Gigafactory” this week after hundreds of workers were fired from Tesla and its subsidiary SolarCity.
Tesla has fired more than 200 additional employees from their SolarCity subsidiary, some of which claim that performance reviews never took place.
Republicans have found healthcare reform to be a difficult task – and have put replacing Obamacare on the back burner – but the President and the GOP-controlled Congress must demonstrate to the American people that they can turn campaign promises into legislation. What gives me confidence they will meet this challenge is the desire of American voters to overturn many of President Barack Obama’s failed policies and resilient Republican leadership at both ends of Pennsylvania Avenue.
Despite the U.S. Congress passing the Consolidated Appropriations Act in December 2015 to slather another $9.3 billion of taxpayer credits on new solar power added to the electrical grid, California solar installments peaked in 2015 and are now headed south.
Despite Elon Musk’s showmanship during the unveiling of the “Solar Roof” as justification for Tesla shareholders to accept a huge dilution by merging with debt-ridden SolarCity, the hyped product already looks dead-on-arrival.
When New York’s Democrat Governor Andrew Cuomo gushed over SolarCity’s new solar panel factory in Buffalo, New York, the audience, likely, didn’t grasp the recently-revealed meaning of his words: “It is such a metaphor—a symbol of everything we’re doing.”
In Silicon Valley, it is a worse “crime” for the founder of Oculus VR, Palmer Luckey, to have donated in support of Republican presidential nominee Donald Trump than for Facebook to have potentially engaged in fraudulently inflating its average video viewing times for the last two years.
SpaceX CEO Elon Musk will officially launch “Making Humans a Multiplanetary Species” on Tuesday, September 27, when gives a keynote speech at the 67th International Astronautical Congress in Guadalajara, Mexico.
Apple Inc. is promising to appeal the European Commission’s decision that it owes $14.5 billion in European taxes because it says the company’s current effective tax rate of 0.00045 percent is “fair.”
In endorsing Hillary Clinton as the Democrat’s choice for President, Sen. Bernie Sanders decried “greed, recklessness, and illegal behavior” and declared that we couldn’t let “billionaires buy elections.”
While Elon Musk was claiming that Tesla Motors will produce 500,000 electric cars in 2018 and 1,000,000 cars in 2020, a leading short-seller on Wall Street admitted he is now betting heavily against Tesla.
Worried about self-preservation, and acting in its own best interest—rather than that of consumers specifically, and America in general—solar industry groups have sprung up to defend the favored-status energy policies and attack anyone who disagrees with the incentive-payment business model.
Having a successful business takes a lot of hard work, good market analysis, a better product or service than the competition, and advertising. Add in a bit of luck, and hopefully it will grow. If, however, you are a politically favored business—say solar—your story is different.
If you live in the United States, vote, pay taxes, and get your electricity from a utility company, you’ve helped the solar power industry. You support the solar industry through a variety of tax and regulatory policies—voted in by politicians you elected—that favor it over other lower-cost forms of electricity generation.
If you build it we will come could be the mantra for Los Angeles billionaire mogul Elon Musk.
