Hyperdrive
Elon Musk Says Shifting SolarCity Workers Helped Tesla Stay Afloat
- In lawsuit deposition he said Tesla ‘would have gone bankrupt’
- Musk tells investors’ lawyer he seems like a ‘very bad person’
This article is for subscribers only.
Tesla Inc. chief executive officer Elon Musk said he shifted resources from the solar company he bought three years ago to save his electric-car company from bankruptcy while it was ramping up production of the Model 3.
Musk made the admission as part of a lawsuit filed by Tesla investors over the company’s 2016 buyout of SolarCity, a solar-panel installer. Disgruntled shareholders contend Tesla directors rolled over when Musk pushed to buy the renewable-energy company. Musk was SolarCity’s chairman and largest shareholder at the time and his cousin was the chief executive officer.