Market Overview

Tesla Building 'Canopy Covers' To Hide Its Solar Test Houses

Tesla Building 'Canopy Covers' To Hide Its Solar Test Houses

Tesla Inc (NASDAQ: TSLA) is building more tents over its solar test structures in solar test houses in Fremont, Calif, according to CNBC.

What Happened

Elon Musk’s Tesla, which aims to have its Solarglass rooftops ready in 2020, is putting up “canopy covers” over its solar test structures in Fremont, according to a newly granted building permit reviewed by CNBC.

The new tents, which will be removed in two months, will help Tesla to avoid any rain delays and hide its R&D operations from prying eyes, according to the permit.

Why It Matters

Musk is in a hurry to market its Solarglass rooftops next year, as it would help him defend a class-action lawsuit filed against Tesla in September.

The lawsuit filed by Tesla Inc shareholders alleged the board of Tesla breached its duties to shareholders by approving the SolarCity deal despite major cash crunch.

While Tesla has revealed the pre-order numbers for its Cybertruck, the company has not yet disclosed the pre-order figures for its Solarglass Roof.

If Tesla can have its Solarglass rooftops ready for mass production and installations in 2020, it would also help the company to capitalize on a new building requirement that is going to take effect in California next year, according to CNBC.


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