Thread by @AlmingtonCap

1/6 $TSLA's solar division has been collapsing in slow motion for a while, but in recent days some folks have finally started waking up. The ramifications for Tesla & Elon Musk will be severe. $TSLAQ

@SenKennedy @NewYorkGOP @news4buffalo

seekingalpha.com/article/423899…

2/6 $TSLA hit a 5-year low of solar installations in Q4 2018 (the estimable @TeslaCharts offers a great graphical depiction of this obvious wind-down).

And there's more pain to come: Tesla's guidance shows even less deployment in Q1, meaning a new post-2012 low. $TSLAQ

3/6 Meanwhile, Gigafactory 2 in Buffalo, where $TSLA builds its solar power systems, has cost New York taxpayers $750 million. Elon promised to create 1460 jobs in exchange. Current reported headcount: 800 (half of which are Panasonic employees. $TSLAQ
wivb.com/news/investiga…

4/6 $TSLA has until April 2020 to meet its job creation requirement (the terms are clear, as highlighted by @Pivotal_Capital). For each year it fails, it is liable for a $41.2 million fine. So basically the price of one "Funding Secured" scandal per year. $TSLAQ

5/6 But wait, there's more: Former workers at Giga 2 have called the reported headcount (small as it is) into question. On top of that, Tesla's latest firing spree struck the energy segment hard. Tim Kennedy (@SenKennedy) is thankfully on the case. $TSLAQ

wivb.com/amp/news/inves…

6/6 In sum, $TSLA's solar business is coming apart at the seams. New York got ripped off, & Buffalo is now home to a largely pointless (and empty) albatross. Elon wants everyone focused on Giga 3 in China, but Giga 2 is already a disaster. $TSLAQ

seekingalpha.com/article/423899…