A judge has ruled in favour of Tesla chief executive Elon Musk, rejecting a case which claimed he unjustly enriched himself when the company acquired SolarCity in a US$2.6 billion deal in 2016.
Tesla CEO Elon Musk said he expects the company to address component shortages that limited the progress of its solar business in the first quarter of 2021, as installs decreased 48% year-on-year.
Tesla is being investigated by the US Securities and Exchange Commission (SEC) following a claim that the company did not appropriately inform its shareholders and the public about potential fire risks from its solar systems, according to a report by Reuters.
A Delaware judge has dismissed direct claims against Tesla CEO Elon Musk over his part in the US$2.6 billion acquisition of residential solar installer SolarCity
Tesla solar installations jumped by 46% year-on-year but fell slightly sequentially to 83MW in Q3 as the clean tech giant targeting greater profitability from its energy division.
Tesla reported retrofit solar installations of 85MW in Q2 2021, cementing its recovery from a worst-ever performance in the corresponding period last year.