Connect with us

News

Tesla Giga New York awakens as Elon Musk’s Solarglass Roof push goes underway

Credit: Tesla

Published

on

Tesla’s Giga New York facility is ramping production to meet Elon Musk’s goals for the company’s energy business. Tesla started ramping solar roof sales and installations in 2019 when Q4’s 54 MW deployment showed a 26% jump from the previous quarter’s 43 MW.

In a series of recent tweets, the CEO shared some of his appreciation for the company’s workers involved in the ongoing rollout of the Solarglass Roof tiles. The third-generation tiles are Tesla’s flagship residential solar product, and they have the potential to disrupt the energy sector in a manner similar to how the Model 3 disrupted the midsize sedan market.

Musk’s tweets provided some updates about Tesla’s Solarglass Roof tiles. According to the CEO, new variants for the solar shingles are coming, though the company is mastering its current black tiles first. Tesla is also currently busy with installations in the Bay Area, though an expansion to other territories is coming soon.

Advertisement

California Today, The Rest Of The World Tomorrow

Starting Tesla’s Solarglass push in California makes a lot of sense, considering that it is a state where residents enjoy a solar investment tax credit of 26% for the purchase cost of energy systems between January 1 to December 31, 2020. This energy incentive will drop to 22% by 2021, and it will be retired by 2023. The incentives seem to have worked for the most part. As of December 2019, the state has 1 million solar systems installed, the majority of which are in residential properties.

Just like how Elon Musk plans to put Gigafactories in every continent to lay the foundation for Tesla, California is an excellent location to build a stronghold and develop a good case to convince consumers in other places to buy the company’s solar solutions. Musk, as most people might know, has the grand plan of transitioning the world towards sustainability and his current endeavor is an initial step to that goal.

Tesla has adopted a series of initiatives that are designed to make its energy products more attractive to consumers. Aside from lowering prices in October, Tesla has also introduced an incentive program encouraging Tesla owners to share their experiences about their energy products.

“The demand is very strong and we are working also not just through Tesla Solar Roof, but also through new homebuilders and through just the roofing industry in general, whether is in North America on the order of 4 million new roofs per year,” Musk said during the recent Tesla Q4 2019 earnings call.

According to Musk, he believes that eventually, the Solarglass Roof would be a matter of choice for consumers between having a live roof that generates power and a conventional roof that only serves a single purpose. Tesla may have a revolutionary product in the Solarglass Roof, and if it were to succeed, it will allow Tesla Energy to grow at a pace that matches or even exceeds that of the company’s electric car business.

Advertisement

The solar industry has a big room to grow and draws a bright future for players such as Tesla. Of all greener energy options, it is expected to boom the fastest from today through 2050.

Tesla’s Giga New York Ramps Production

To meet the demand, Tesla’s Giga New York is bustling with activity. The 88-acre property in Buffalo is home to the factory that produces Tesla’s solar modules. New York State Assembly member Sean Ryan toured the Tesla factory in Buffalo last Friday and was pleased with the progress.

“The factory is built out. It has complete lines running, product moving around, people are there, so it’s really transformed itself into what we’ve been hoping for,” Ryan said. “We’ve been holding our breath since we put that big bet down on Tesla. They had a slow start, and I was worried as we’re appoaching this spring they were going to hit their deadlines, but they’re right on track.”

Advertisement

Ryan last visited the factory 15 months ago and his testimony corroborates Musk claims recently that Giga new York is operating at a good pace.

Advertisement
Comments

Elon Musk

Tesla CEO Elon Musk teases Optimus job that’s straight out of Robocop

“If somebody’s committed a crime, we might be able to provide a more humane form of containment of future crime. You now get a free Optimus, and it’s just going to follow you around and stop you from doing crime.”

Published

on

Credit: @heydave7/X

Tesla CEO Elon Musk teased a potential job for the company’s Optimus robot last week that is straight out of the movie “Robocop.”

“Robocop” aimed to show a futuristic look at law enforcement in a Sci-fi thriller that was among the first iterations of how robots could be used for police work.

The 1987 film showcased an injured cop turning into an armed cyborg, and although Tesla’s Optimus won’t be a human-robot hybrid, Musk’s idea for the humanoid project is similar.

Musk said last week at the Annual Shareholder Meeting, where shareholders voted to approve his $1 trillion compensation plan, that Optimus could be the future of law enforcement, nearly revolutionizing the way criminals are prosecuted.

He hinted that Optimus could actually be used as a chaperone of sorts, arguing that it was a “more humane form of containment of future crime.” Musk said:

Advertisement

“If somebody’s committed a crime, we might be able to provide a more humane form of containment of future crime. You now get a free Optimus, and it’s just going to follow you around and stop you from doing crime. Other than that, you get to do anything; it’s just going to stop you from committing crime. That’s really it. You don’t have to put people in prisons and stuff. It’s pretty wild to think of all the possibilities, but I think it’s clearly the future.”

Musk’s overall idea for Optimus is to change the way people are able to exist, from those law-abiding citizens to others who have their run-ins with the law. Instead, the Tesla CEO believes there could be a different way to handle everything, including punishment.

Advertisement

It was not the only thing that Musk indicated could be changed significantly by the presence of humanoid robots, as he also said a universal basic income could be established with the help of products like Optimus.

Continue Reading

Elon Musk

Elon Musk teases huge merger: ‘Trending towards convergence’

“My companies are, surprisingly in some ways, trending towards convergence.”

Published

on

Elon Musk recently amplified the thoughts of Morgan Stanley analyst Adam Jonas, who had insight into the “Muskonomy” of his potentially interconnected ventures, something that was proposed at the recent Tesla Shareholder Meeting with xAI.

Musk’s words indicate a potential strategic fusion that could serve as a blueprint for future innovation–but it is dependent on a conglomeration between the many entities the CEO serves.

As Tesla grapples with scaling Optimus and preparing for its imminent production and the development of the Full Self-Driving suite, xAI’s computational edge could provide leverage for the millions of miles of data the company accumulates, providing a more stable and accurate development strategy for the autonomous and AI efforts it has put its chips all in on.

After Tesla Shareholders voted to deny Tesla and xAI’s potential financial partnership through an investment, Jonas said it was an issue that would have to be revisited due to its importance.

xAI has the opportunity to provide an incredible strategic and financial bolstering to Tesla, especially with how important a role data plays in the development of the company’s biggest products.

Advertisement

Jonas wrote in a note to investors:

“They’re gonna have to revisit this. We don’t think investors understand just how important xAI is to Tesla and the broader Muskonomy. Tesla’s relationship with xAI (financially and strategically) is deterministic to the long-term success of Tesla due in part to the natural synergies of data, software, hardware, and manufacturing in recursive loops. The values (and value systems) of both Tesla and xAI are endowed by the values of their shared creator. We believe this co-determination becomes more obvious in the next phases of physical AI/ autonomy for Tesla in the year ahead.”

Musk said, in response to Jonas’ note, that his companies are “surprisingly in some ways, trending toward convergence.”

Advertisement

Mergers and shared ecosystems between companies are not new moves out of Musk’s playbook, as it has been done in the past, especially with Tesla acquiring other entities.

It did it with SolarCity in 2016 and with Maxwell Technologies in 2019. Investments between Musk companies have occurred before, too, as SpaceX dumped $2 billion into xAI last July.

He’s also said on several occasions that he could eventually bring everything together into some sort of single entity. In July 2024, he said:

“I’m not opposed to the idea in principle, but I’m not sure there is a pragmatic or legal way to merge them. There is also value in equity incentives of people at the companies being tied to that company’s accomplishments.”

This point is especially relevant now with Musk’s recently approved compensation package.

Advertisement

He also said in June, during an interview with CNBC , that “It’s not out of the question” for xAI to merge with Tesla, but it would have to be approved by shareholders. Just a few days later, he said he would not support xAI merging with Tesla; however, he put it in investors’ hands.

It’s more than just a deal; it’s symbiotic. Musk being at the helm of various companies, all intertwined with one another, helps foster recursive innovation. Despite these advantages, there are still a handful of things to consider, especially from a regulatory perspective.

However, it is not competition; it’s convergence. In Musk’s universe, especially from a business sense, mergers are not endpoints, but instead launchpads for ambitions that aim to take each company from Earth to lands beyond our atmosphere.

Continue Reading

Elon Musk

Tesla makes Elon Musk’s new compensation package official

This is an important thing to note, as much of the media coverage regarding Musk’s pay package seems to indicate that the company and the shareholders are simply giving the CEO the money. He has to come through on each of these tranches to unlock the $1 trillion.

Published

on

Credit: @JoeTegtmeyer/X

Tesla has made CEO Elon Musk’s new compensation package official, as it filed a Form 4 with the Securities and Exchange Commission (SEC) on Monday.

The package officially gives Musk the opportunity to acquire over 423 million shares of Tesla stock (NASDAQ: TSLA), dependent on his ability to achieve twelve performance-based tranches that will bring growth to the company and its shareholders.

Tesla (TSLA) shareholders officially approve Elon Musk’s 2025 performance award

Musk’s new compensation package was approved by investors last Thursday at the company’s Annual Shareholder Meeting, as over 75 percent of voters supported the CEO’s new plan, which could be valued at over $1 trillion if he is able to come through on all twelve tranches.

The twelve tranches include growth goals related to vehicle deliveries, the Optimus humanoid robot project, and Tesla’s valuation. If Musk is able to achieve each tranche, he would help Tesla achieve an over $8 trillion market cap.

Advertisement

The 12 tranches include:

  1. $2 trillion market cap + Deliver 20 million Tesla vehicles cumulatively
  2. $2.5 trillion market cap + Reach 10 million active Full Self-Driving (FSD) subscriptions
  3. $3 trillion market cap + Deliver 1 million Optimus humanoid robots
  4. $3.5 trillion market cap + Operate 1 million Robotaxis commercially
  5. $4 trillion market cap + Hit $50 billion in adjusted EBITDA (earnings before interest, taxes, etc.)
  6. $4.5 trillion market cap + Hit $80 billion in adjusted EBITDA
  7. $5 trillion market cap + Hit $130 billion in adjusted EBITDA
  8. $5.5 trillion market cap + Hit $210 billion in adjusted EBITDA
  9. $6 trillion market cap + Hit $300 billion in adjusted EBITDA
  10. $6.5 trillion market cap + Hit $400 billion in adjusted EBITDA
  11. $7.5 trillion market cap + Hit $400 billion in adjusted EBITDA for four straight quarters in a row
  12. $8.5 trillion market cap + Hit $400 billion in adjusted EBITDA for four straight quarters in a row

Achieving the twelve levels of the new compensation package would also give Musk what he’s really after: a larger ownership share in Tesla, which would help him achieve more control, something he feels is necessary for the rollout of the Optimus robot “army.”

Musk does not earn a dime if he does not achieve any of the tranches above.

This is an important thing to note, as much of the media coverage regarding Musk’s pay package seems to indicate that the company and the shareholders are simply giving the CEO the money. He has to come through on each of these tranches to unlock the $1 trillion.

Continue Reading

Trending