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The acquisition of SolarCity by Tesla in 2016 seems worse and worse. And its $ 1 billion solar gigafactory in Buffalo, New York, built, subsidized, and managed by the state for SolarCity, seems to operate primarily as a Panasonic plant.
The news: The vast majority of the solar cells produced at the site are now sold abroad rather than used in Tesla's "solar roof" photovoltaic product, according to a Reuters report Wednesday, citing a letter from Panasonic, Tesla's partner on the factory, addressed to the US customs authorities.
This product has been designed to look like roof shingles on which solar cells are integrated, in order to differentiate the basic solar panels sector offering. But the line seems to have been a flop. California utilities have only connected 21 such systems, according to state data obtained by the press service. And only "a few" have been installed in the northeast, Reuters reported, citing a former anonymous employee.
In more than two years since Tesla's acquisition of SolarCity, all of its solar installations have dropped more than 76 percent.
A spokesman for Tesla told Reuters he actively "installed" the Solar Roof product in eight US states, but he refused to discuss his purchases from Panasonic or to indicate the total number of installations.
L & # 39; background: Tesla bought SolarCity for $ 2.6 billion at the end of 2016 as part of a deal that was heavily criticized for its huge debt and close ties between Tesla's chief executive, Elon Musk. He had been president of SolarCity and was a cousin of co-founders Peter and Lyndon Rive, both of whom have since left.
Shortly after, Tesla unveiled the Solar Roof line, a radical change from SolarCity's commercial model, which mainly sold and installed solar roof panels manufactured by Chinese manufacturers. Tesla also entered into an agreement to purchase custom solar cells for its products from Panasonic, which then decided to invest $ 250 million in the gigafactory and install its own production line there. .
The subcontract also allowed Tesla to meet its hiring commitments under the $ 750 million state grants. However, it still seems likely that the number of 1,500 employees required by 2020 will not be reached, which would result in financial penalties. already invited harsh criticism of the agreement by some state legislators.
Solar wrestling: Tesla struggled to get into production and gain ground in a solar space dominated by low-cost panels manufactured abroad, mainly in China.
Last year, Tesla ended its retail partnership with Home Depot, which is several months old, and closed a number of solar installations. His would have cut thousands of workers in its solar division since the acquisition. The team also faced challenges with the appearance and performance of the Solar Roof tiles.
A Bloomberg article at the end of last year, Tesla operated only one production line at the Buffalo plant, instead of several lines expected to operate at this stage.
The film also notes that Panasonic's production is distinct from Tesla, installed on the other side of the building, despite the fact that Tesla described the agreement as a close collaboration. While Panasonic was manufacturing solar roof cells, Tesla "challenged their aesthetics and cost" and also turned to a Chinese supplier, Bloomberg said, citing several sources.
It is not clear exactly how many solar cells, roof tiles or Tesla panels are produced by Panasonic itself. But it is probably a small fraction of the solar capacity of a gigawatt per year that the company boasted at the start of the plant's production (see "10 Breakthrough Technologies 2016: SolarCity's Gigafactory").
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