Apr 25
2019
Tesla reports big losses
Tesla reported first quarter losses Wednesday of $702 million. What’s worse, Tesla reported a big drop in its solar business. Solar panel installations dropped by more than one third during the first quarter. Installations are down five-fold since peaking in 2015. Its market share has tumbled in recent years from 33 to 9 percent. All this is bad news for Tesla’s plant in South Buffalo, which was built and equipped at taxpayer expense. A slump in solar sales lessens demand for the products produced at the plant. That, in turn, could make it tough for Tesla to create all the jobs[...]