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Yahoo Finance automotive correspondent Pras Subramanian joins Yahoo Finance Live to discuss the latest news from Ford and Tesla.
Elon Musk-led Tesla Inc has missed its solar-roof installation targets by a big margin due to stiff competition from GAF Energy and other rivals, according to industry analysis firm Wood Mackenzie. Tesla's average installations per week were 21 in 2022, far lower than the company's 1,000-per-week target for 2021. The data underscores the depth of Tesla's woes in the solar business, which the electric-car maker entered in 2016 with its controversial $2.6 billion acquisition of SolarCity.
Tesla (NASDAQ: TSLA) was a first-mover. Investors have fiercely debated the company's stock, which trades at a hefty premium to those of competitors like Ford and General Motors. One could argue that Tesla is a car company with money-sucking capital requirements like any other automotive maker.