Energy
Elon Musk makes opening remarks in SolarCity trial, defends Tesla’s $2.6B acquisition
Elon Musk has made his opening remarks in a Wilmington, Delaware, courthouse on Monday morning, defending Tesla’s $2.6 billion acquisition of solar energy company SolarCity. The deal took place in 2016 and gave Tesla full possession of the solar panel maker, a move that some Tesla shareholders were not keen on, as some are alleging the move was a bailout of SolarCity.
The lawsuit indicates that Musk applied heavy pressure on Tesla’s board to purchase SolarCity back in 2016, as the company was running low on cash and was likely headed for bankruptcy. Musk owned a 22% stake in SolarCity at the time of Tesla’s acquisition. Interestingly, Musk also owned around 22% of Tesla at the time of the SolarCity purchase. SolarCity was founded by two of Musk’s cousins, Lyndon and Peter Rive.
Vice Chancellor Joseph Slights will sit in on the two-week trial in Courtroom 7E in the Wilmington Courthouse. He will ultimately decide whether Tesla’s purchase of SolarCity was fair to shareholders.
Musk commented on questions asked by his attorney, Evan Chesler, initially, stating that the nature of the transaction did not result in any monetary gain for him personally. He said (via Reuters):
“Since it was a stock-for-stock transaction and I owned almost exactly the same percentage of both there was no financial gain.”
Tesla shareholders requested that Musk repay Tesla the $2.6 billion price tag for the SolarCity acquisition. If this were to occur, it would be one of the largest judgments ever to be decided against one person. If Judge Slights decides that the acquisition was unfair to Tesla shareholders, he could ultimately decide on another amount, a number that could be much lower than the actual purchase price that Tesla paid.
Musk added that the acquisition of SolarCity was a key component to “Master Plan, Part Deux,” the second faction to the CEO’s “top secret” playbook for transitioning the world to sustainable energy. Additionally, he stated that he did not control the appointment or compensation of SolarCity board members at the time of the acquisition, and he did not influence the deal’s terms. Musk maintains that his relationship with the SolarCity Board of Directors is “good” and that they “work hard and are competent.”
Musk was cross-examined by the shareholder attorney Randy Baron, who told the Tesla CEO that it could be a long two weeks. In typical Musk fashion, he replied, “I can tell by the binder.”
Ultimately, legal experts indicate that Judge Slights will be looking for any sort of evidence that would conclude Musk threatened directors or board members to decide in favor of purchasing SolarCity. Reuters said in its coverage of the trial that one of the turning points of the trial will be allegations that Musk was a controlling shareholder. If this can be proven, it would likely imply that the deal was unfair to shareholders and could impose tougher legal implications for the CEO.
Slights will not decide Musk’s fate at the tail-end of the trial. A verdict will likely come months down the road after plenty of deliberation.
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Energy
Tesla Powerwall distribution expands in Australia
Inventory is expected to arrive in late February and official sales are expected to start mid-March 2026.
Supply Partners Group has secured a distribution agreement for the Tesla Powerwall in Australia, with inventory expected to arrive in late February and official sales beginning in mid-March 2026.
Under the new agreement, Supply Partners will distribute Tesla Powerwall units and related accessories across its national footprint, as noted in an ecogeneration report. The company said the addition strengthens its position as a distributor focused on premium, established brands.
“We are proud to officially welcome Tesla Powerwall into the Supply Partners portfolio,” Lliam Ricketts, Co-Founder and Director of Innovation at Supply Partners Group, stated.
“Tesla sets a high bar, and we’ve worked hard to earn the opportunity to represent a brand that customers actively ask for. This partnership reflects the strength of our logistics, technical services and customer experience, and it’s a win for installers who want premium options they can trust.”
Supply Partners noted that initial Tesla Powerwall stock will be warehoused locally before full commercial rollout in March. The distributor stated that the timing aligns with renewed growth momentum for the Powerwall, supported by competitive installer pricing, consumer rebates, and continued product and software updates.
“Powerwall is already a category-defining product, and what’s ahead makes it even more compelling,” Ricketts stated. “As pricing sharpens and capability expands, we see a clear runway for installers to confidently spec Powerwall for premium residential installs, backed by Supply Partners’ national distribution footprint and service model.”
Supply Partners noted that a joint go-to-market launch is planned, including Tesla-led training for its sales and technical teams to support installers during the home battery system’s domestic rollout.
Energy
Tesla Megapack Megafactory in Texas advances with major property sale
Stream Realty Partners announced the sale of Buildings 9 and 10 at the Empire West industrial park, which total 1,655,523 square feet.
Tesla’s planned Megapack factory in Brookshire, Texas has taken a significant step forward, as two massive industrial buildings fully leased to the company were sold to an institutional investor.
In a press release, Stream Realty Partners announced the sale of Buildings 9 and 10 at the Empire West industrial park, which total 1,655,523 square feet. The properties are 100% leased to Tesla under a long-term agreement and were acquired by BGO on behalf of an institutional investor.
The two facilities, located at 100 Empire Boulevard in Brookshire, Texas, will serve as Tesla’s new Megafactory dedicated to manufacturing Megapack battery systems.
According to local filings previously reported, Tesla plans to invest nearly $200 million into the site. The investment includes approximately $44 million in facility upgrades such as electrical, utility, and HVAC improvements, along with roughly $150 million in manufacturing equipment.
Building 9, spanning roughly 1 million square feet, will function as the primary manufacturing floor where Megapacks are assembled. Building 10, covering approximately 600,000 square feet, will be dedicated to warehousing and logistics operations, supporting storage and distribution of completed battery systems.
Waller County Commissioners have approved a 10-year tax abatement agreement with Tesla, offering up to a 60% property-tax reduction if the company meets hiring and investment targets. Tesla has committed to employing at least 375 people by the end of 2026, increasing to 1,500 by the end of 2028, as noted in an Austin County News Online report.
The Brookshire Megafactory will complement Tesla’s Lathrop Megafactory in California and expand U.S. production capacity for the utility-scale energy storage unit. Megapacks are designed to support grid stabilization and renewable-energy integration, a segment that has become one of Tesla’s fastest-growing businesses.
Energy
Tesla meets Giga New York’s Buffalo job target amid political pressures
Giga New York reported more than 3,460 statewide jobs at the end of 2025, meeting the benchmark tied to its dollar-a-year lease.
Tesla has surpassed its job commitments at Giga New York in Buffalo, easing pressure from lawmakers who threatened the company with fines, subsidy clawbacks, and dealership license revocations last year.
The company reported more than 3,460 statewide jobs at the end of 2025, meeting the benchmark tied to its dollar-a-year lease at the state-built facility.
As per an employment report reviewed by local media, Tesla employed 2,399 full-time workers at Gigafactory New York and 1,060 additional employees across the state at the end of 2025. Part-time roles pushed the total headcount of Tesla’s New York staff above the 3,460-job target.
The gains stemmed in part from a new Long Island service center, a Buffalo warehouse, and additional showrooms in White Plains and Staten Island. Tesla also said it has invested $350 million in supercomputing infrastructure at the site and has begun manufacturing solar panels.
Empire State Development CEO Hope Knight said the agency was “very happy” with Giga New York’s progress, as noted in a WXXI report. The current lease runs through 2029, and negotiations over updated terms have included potential adjustments to job requirements and future rent payments.
Some lawmakers remain skeptical, however. Assemblymember Pat Burke questioned whether the reported job figures have been fully verified. State Sen. Patricia Fahy has also continued to sponsor legislation that would revoke Tesla’s company-owned dealership licenses in New York. John Kaehny of Reinvent Albany has argued that the project has not delivered the manufacturing impact originally promised as well.
Knight, for her part, maintained that Empire State Development has been making the best of a difficult situation.
“(Empire State Development) has tried to make the best of a very difficult situation. There hasn’t been another use that has come forward that would replace this one, and so to the extent that we’re in this place, the fact that 2,000 families at (Giga New York) are being supported through the activity of this employer. It’s the best that we can have happen,” the CEO noted.
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