Tesla’s SolarCity gamble has gone wrong
“If he hadn’t bailed out SolarCity, his whole debt-laden empire might have cracked. Yet without the bailout, Tesla would be far more healthy….In the second quarter of this year, SolarCity installed only 29 megawatts of solar panels—far below the 10,000 megawatts in annual installations that Musk had promised.”Vanity Fair
Bethany Mclean who made her name writing about Enron long before others is explaining the challenge faced by Tesla and Elon Musk due to the 2016 SolarCity acquisition. The much ballyhooed Solar Roof is a flop, and the whole thing seems to be coming apart at seams. Worth a read from a reporter, who has a habit of finding big stories before others.