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Putting aside the fact that you can't justify fraud by post-hoc outcomes (Shkreli and SBF also claimed that they didn't commit fraud because they would or did w
by foobarqux 2y ago
Putting aside the fact that you can't justify fraud by post-hoc outcomes (Shkreli and SBF also claimed that they didn't commit fraud because they would or did win it back), I doubt any of the Tesla Energy division income (even assuming the accounting is okay) is a result of businesses that can be traced back to Solar City.
I suspect most of the business is battery storage and the Powerwall was introduced by Tesla before the acquisition.
- enslavedrobot 2y agoThe vertically integrated Tesla strategy is to use batteries to arbitrage the value of stored energy. This is well described in the Tesla "Master Plan" documents. Solar is a huge part of this. According to the company filings the solar assets Tesla acquired are still generating revenue at the rates projected during the acquisition.
- foobarqux 2y agoWell I trust Elon's statements (even the financial statements) as far as I can throw them but can you point out where it says that? I'm searching the 10-K and I don't see solar broken out. But even if it's true I assume they are including their utility-scale solar and battery packs, which has nothing to do with Solar City: the panels are generic, the customer lists are not residential, they don't use the fancy shingles. Solar City did not help them in any way with these getting or fulfilling these contracts.