Energy
Tesla directors except Elon Musk get court approval for $60M SolarCity settlement
In a brief telephone hearing on Monday, a Delaware judge opted to approve a $60 million settlement for a shareholder lawsuit stemming from Tesla’s $2 billion acquisition of clean energy company SolarCity in 2016. Interestingly, the judge granted the settlement approval for Tesla’s directors, but not Elon Musk, as the CEO is poised to face his own SolarCity-related case next March.
Apart from the $60 million settlement, Judge Joseph Slights III approved $16.8 million in legal fees and expenses that were requested by the plaintiff’s lawyers. As noted in a report from ABC News, this amount corresponds to about 28% of the case’s “derivative settlement,” which was made on behalf of the company and is poised to be paid by insurers.
“It’s a substantial amount of money,” the Judge Sights said.
The plaintiff’s lawsuit against Tesla’s directors alleges that the executives breached their fiduciary duties to TSLA shareholders by simply allowing Musk to go through his personal intentions to purchase SolarCity, which was in rough straits at the time. The Tesla CEO was the largest SolarCity shareholder then, and the case’s plaintiffs argued that the buyout ended up improperly benefitting Musk, his cousins who co-founded the company, and Tesla’s directors who also owned shares in SolarCity.
Musk, for his part, has defended Tesla’s SolarCity acquisition. As could be seen in pre-trial depositions that were made public last year, the CEO noted that the acquisition was a strategic move for Tesla, and that the solar company would have been fine by itself even if it had not been acquired. He also dismissed the plaintiff’s lawyers, stating that they were “barking up the wrong tree.”
“SolarCity would have done just fine by itself and Tesla would have done just fine by itself, but in the long-term, they are better together. And that is what the future will show. That is why I think you should stop wasting your time now,” Musk said, as noted in a Bloomberg report.
Tesla and Elon Musk have both maintained that the SolarCity acquisition was a step in the right direction, as solar panels and energy storage, together with electric vehicles, comprise an ecosystem of products that can grant energy independence to customers. This point was outlined by Tesla in an announcement back in 2016.
“Solar and storage are at their best when they’re combined. As one company, Tesla (storage) and SolarCity (solar) can create fully integrated residential, commercial and grid-scale products that improve the way that energy is generated, stored and consumed… By joining forces, we can operate more efficiently and fully integrate our products, while providing customers with an aesthetically beautiful and simple one-stop solar + storage experience: one installation, one service contract, one phone app,” the company noted.
Elon Musk explained this point further during the second-quarter earnings call. According to the CEO, there are three elements of a sustainable future, and two of them are related to Tesla Energy, which offers solar solutions and battery storage. “So, there’s like three elements of the sustainable energy future. Wind and solar sustainable energy generation, battery storage and electric transport. Those three things. And the mission of Tesla is to accelerate sustainable energy. So that kind of says enough,” Musk said.
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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