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Greenlight Capital's David Einhorn — a Tesla short — highlighted the SolarCity deal in his Q3 investor letter to clients of his hedge fund. Visit Business Insider's homepage for more stories.
The shareholders contend that Musk helped keep SolarCity financially afloat in 2015 and 2016 by purchasing $165 million in SolarCity bonds, in violation of SpaceX’s own internal policies.
Walmart blames SolarCity’s business model. Walmart also says that problems and dangers remain unavoidable, so long as Tesla continues to pursue the original SolarCity business model.
SolarCity eliminated a little more than 3,000 jobs – or about 20 percent of its workforce – over the past year as the solar energy systems installer moved to cut costs as its business cooled.
“We have customers that are foreclosed,” Lyndon Rive, CEO of SolarCity, said in an interview in 2012. “They’re still paying their electric bill, so they still pay us.” ...
Of the original 18,000 before the acquisitions, Tesla confirmed that more than 13,000 are based in the US which adds up to now over 25,000 US-based employees with the SolarCity acquisition.
Tesla and SolarCity’s union is still very fresh, but the combined companies are already highlighting what they’ve been able to accomplish even just as partners.
Tesla's previous Powerwall came in two sizes. The 10 kWh unit cost $3,500, intended only for backup use. A smaller, 7 kWh unit for daily cycling cost $3,000. Though both were announced and ...
SolarCity’s loss of $250 million was almost $100 million more than the same period a year ago. The company reported a per-share loss of $2.32 compared with $1.61 in the year-earlier quarter.
Update on the merger In late June, Tesla Motors made an offer to buy SolarCity in an all-stock transaction, for a price of 0.122 to 0.133 shares of Tesla stock for each share of SolarCity stock.
But if you're a SolarCity shareholder who plans to hold your shares through the merger and become a long-term Tesla investor, then SolarCity's business results absolutely matter.