Tesla to close a dozen solar facilities in nine states - documents

[4248]

Could another Cuomo give away be failing :

The installation offices that the internal email said were targeted for closure were located in California, Maryland, New Jersey, Texas, New York, New Hampshire, Connecticut, Arizona and Delaware.

- - The latest cuts to the division that was once SolarCity - a sales and installation company founded by two cousins of Tesla CEO Elon Musk - include closing about a dozen installation facilities, according to internal company documents, and ending a retail partnership with Home Depot Inc that the current and former employees said generated about half of its sales.
About 60 installation facilities remain open, according to an internal company list reviewed by Reuters. An internal company email named 14 facilities slated for closure, but the other list included only 13 of those locations.
Tesla declined to comment on which sites it planned to shut down, how many employees would lose their jobs or what percentage of the solar workforce they represent. https://www.reuters.com/article/us-t...-idUSKBN1JI013

[leftWNYbecauseofBS]

I was wrong on this. Was hopeful, too hopeful, that bringing a brand like Telsa would have been good for Buffalo. I am a huge fan of the solar shingle rather than solar arrays, and I know the powerwall tech is already there but Tesla is just going in so many directions and they are not doing great in any of them. For our planet I really wanted this to take off.

The only positive to all of this is just how bad this is going to look for Cuomo. Instead of building the original modular Riverbend project with multiple bays and build as needed, Andy went all in on this project to make sure his donors had a nice project to build. They are in Manhattan talking about that right now.

You want to know just how bias and crappy the reporting is over at [BN] these days? Take a look at this from Seeking Alpha: Summary Of Panasonic's Riverbend Factory Agreement With Tesla & SolarCity and Tesla Has Stiffed New York State On The Riverbend Factory

From the looks of it, Andy and his pals spent $750M on building a factory for one company that has now changed hands and Panasonic is the rent free tenant with very weak agreement with Tesla on production and purchasing.




This could have happened:

[WNYresident]

Even though I don't agree with taking people's money and giving it to other businesses I wanted to see this take off.

[grump]

Leftie, I read the Seeking Alpha pieces on this debacle at the time. Montana Skeptic had been following this unfolding rip-off for some time. You’re right that you will never get anything like accurate reporting about this scam in the local media. This technology is simply not competitive without massive giveaways of taxpayer money. Elon Musk is a media favorite who is routinely given a free ride over conduct that would get most CEO’s roasted. In fact, there are serious commentators who have questioned why the SEC hasn’t taken a long hard look at the propriety of the disclosures and accounting measures employed by this maze. His car manufacturing is routinely caught out using substandard parts and materials. Solar City was under fire by state attorneys general across the West because of its fraudulent, deceptive sales practices. Exactly the type of outfit with which one would expect Cuomo to feel comfortable. My understanding is that Panasonic/Tesla can walk away for any reason or no reason.

[sharky]

not only closing locations but also ending a partneship that is generating half their sales? so I'm thinking more closures will be coming once their sales drop

[4248]

Mr. #Musk was supporting Mrs. #Clinton because she promised $360Billion US tax dollars for energy projects and start ups ! She promised to "invest" in #solar and wind start up projects. Guess who would have been the favored child in the solar and battery end of those endeavors =Elan Musk
Remember years ago there was a start up called #Solyndra = Solyndra Scandal
Key coverage of the investigation into Solyndra, the Silicon Valley startup that collapsed, leaving taxpayers liable for $535 million in federal guarantees.

Now X-Sen, #JohnKerry has been working on a similar deal in #VietNam - $68 Billion dollars would be guaranteed by American tax dollars for private investors. This deal is on hold now that Hillary lost - this is another reason Mr. Kerry, #JohnMcCain and others are fighting to remove President Trump.

The Global pipeline of US tax dollars has been shut down or at least slowed a great deal. These are the back door deals our tax funded elected officials and their appointed friends have been making Globally.

We have also financed/guaranteed the building of nuclear reactors around the world. Guess what company has and is being used to build most of the reactors = #Rosatom ! Oh, Gee isn't that the same #Russian company that bought #UraniumOne with the help of Clinton/Obama = YES it is ! Coincidence ?

[leftWNYbecauseofBS]

not only closing locations but also ending a partneship that is generating half their sales? so I'm thinking more closures will be coming once their sales drop

Things are not looking good at Tesla. Because of production delays and a tax credit that's going to expire, 1 in 4 pre-orders of the model 3 has been canceled. For those who do keep their order the cars are going to cost between $8k and $14k more.

As for the home depot partnership, that's not actually a bad deal. If you need to pay out a super high commission, which they were doing, you need a much sales volume. If you bring sales in-house and reduce that cost, you can sell a lower volume and have better margins. If the solar roof product takes off they are not going to need home depot or any other 3rd party provider.

[WNYresident]

I agree with Lefty.

I still wouldn't have used people's money like Cuomo did to build the plant though.