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Not as good as I had hoped on margins, this is a bit of letdown. But I am really happy about the Solar and Storage. Overall its still pretty good. Overall 2020
by nickik 6y ago
Not as good as I had hoped on margins, this is a bit of letdown. But I am really happy about the Solar and Storage. Overall its still pretty good. Overall 2020 was very successful, specially considering the situation.
Solar collapsed quite a bit after Solarcity and introducing the Solar roof was difficult. However it seem like now they should increase growth, they are adding their own teams and they are working with 3rd company installers. Overall 2020 doesn't look good but Q3 and Q4 look like a return to solid growth
Storage is problematic area because it requires the same manufacturing as battery packs. So Tesla always had a fight for storage and it was of secondary importance. In the long run however it could be a huge market. Doubling the mount deployed from last Q is really great.
Both Berlin and Texas are moving along very well and Model Y in China coming online only now, promises continued growth for next year. The refresh Model S should again help to drive profitability as well.
I'll have to look at the numbers in more detail.