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Tesla is under pressure to revitalize its solar and storage business

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Elon Musk reveals prototypes of the Tesla Solar Roof on October 28, 2016

Tesla

Even with a record fourth quarter for its solar energy and storage systems business, Tesla’s energy revenue declined by over $24 million in 2019, after several rounds of layoffs that started the prior year.

The company is now under pressure to get the business going again. Tesla said, in its annual financial report on Thursday, that it’s ramping up solar photovoltaic production at its plant in Buffalo, New York.

“We have recently started manufacturing solar panels at this facility in collaboration with Panasonic,” the filing states.

CEO Elon Musk needs to increase headcount at the Buffalo plant, dubbed Gigafactory…



Source cnbc.com

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