Tesla

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Tesla plans to take New York State up on an opportunity to get a one-year break from financial and job creation obligations they’re held to at its Buffalo Gigafactory. A spokesperson for Empire State Development confirmed Thursday the state is considering a deferral for all companies that have job creation requirements as part of economic development packages, due to COVID-19 disruptions.

Chris Caya / WBFO News

South Buffalo's Tesla gigfactory may reopen, not to make solar panels, but desperately needed ventilators for COVID-19 patients.

Some $50 million worth of new solar manufacturing equipment purchased by New York State for use in the Tesla manufacturing plant on South Park Avenue is currently sitting unused in a Niagara County warehouse.

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Buffalo Mayor Byron Brown says he is "disappointed" Panasonic will be ceasing North American solar production and exiting its partnership with Tesla to produce solar panels at the company's Riverbend plant.

Tesla / Twitter

Tesla CEO Elon Musk says he will be at the company's "Gigafactory 2" facility on South Park Avenue in Buffalo in April.

File photo: Chris Caya/WBFO News

Concerns over the deal Albany made to fund Tesla's Gigafactory on South Park Avenue, in Buffalo, were raised during a hearing in Amherst Monday. As WBFO's Chris Caya reports - the state could penalize the company millions of dollars for failing to meet an upcoming deadline.


Chris Caya / WBFO News

Tesla announced surprising profits of $143 million for last quarter, raising hopes the electric car pioneer may finally be turning around mostly losses as a publicly held company over the last decade. In a webcast Wednesday, CEO Elon Musk also had good news for Buffalo's SolarCity.

Chris Caya / WBFO News

Tesla's latest earnings report barely mentions the company's South Buffalo solar factory.

Chris Caya/WBFO News

Tesla says it has hired more workers than required under a deal with New York state. To reach its goal, the company has started making more than just solar roofs at its Gigafactory 2 in South Buffalo.

Updated at 1:05 p.m. ET on Tuesday

The Securities and Exchange Commission asked a federal judge to hold Tesla Inc. CEO Elon Musk in contempt for violating a court settlement that restricted what he could publish about his company's performance.

Mike Desmond/WBFO

Eight decades ago labor organizations worked to organize Republic Steel in the bloody and violent struggle between steel companies and the Steel Workers Organizing Committee. Union officials were back at the former site of Republic Steel on South Park Avenue last night as they look to organize the workers at Tesla.


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The Cuomo Administration has taken a lot of heat over the Riverbend project on South Park Avenue in Buffalo. The current home of "Tesla's Gigafactory 2" cost New York state taxpayers $750 million to build in 2014. And the jobs promised were slow in coming. But the solar panel factory has seen significant growth in recent months. 

Tesla has named a new chair to replace Elon Musk, after the CEO agreed to step down from the company's board as part of a settlement with the Securities and Exchange Commission.

Musk's successor as chair, effective immediately, will be Robyn Denholm, a Tesla board member and technology executive.

It all started with an Aug. 7 tweet. In it, Musk said he was considering taking Tesla private at $420 a share — and had funding secured.

The SEC accused him of manipulating the market and sued him in late September for making "false and misleading" statements to investors.

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New York's fiscal watchdog says other branches of state government have damaged his ability to monitor where tax dollars go. Tom DiNapoli was in town to attend a labor political rally in the Buffalo Irish Center.

Updated at 1:02 a.m. ET Sunday

Elon Musk, Tesla's chief executive, has reached a deal with the Securities and Exchange Commission to settle a securities fraud charge brought against him on Thursday, the agency announced on Saturday.

Under the terms of the settlement, Musk has agreed to step down as chairman of the Silicon Valley-based company, but will remain in his post as CEO.

Updated at 9:32 p.m. ET

The U.S. Securities and Exchange Commission is suing Tesla CEO Elon Musk, alleging securities fraud a month after he announced that he planned to take the publicly traded electric-car company private.

"Musk's false and misleading public statements and omissions caused significant confusion and disruption in the market for Tesla's stock and resulting harm to investors," the lawsuit says.

Tesla said on Tuesday it was complying with a Justice Department request for documents, in connection with Chief Executive Elon Musk's announcement that he was taking the publicly traded company private.

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Shares of Tesla lost approximately nine percent of their value Friday, as the high-tech company moves forward amid concerns including a Securities and Exchange Commission investigation, comments made by founder Elon Musk and a report that Tesla may not, after all, purchase all the output from the Buffalo-based factory it now shares with Panasonic.


Cynthia for New York

Democratic gubernatorial challenger Cynthia Nixon blasted Gov. Andrew Cuomo's economic development process during a news conference Tuesday, just down the street from the Tesla plant in South Buffalo.

Tesla Motors started selling its stock to the public in 2010 — the first initial public offering of a U.S. automaker in more than a half-century. On Tuesday, Tesla CEO Elon Musk said he's considering a reversal — taking the electric car company private.

As he often does, the outspoken entrepreneur took to Twitter to deliver the news. "Am considering taking Tesla private at $420. Funding secured," Musk tweeted in early afternoon.

A federal jury in New York has convicted key players of corruption in Gov. Andrew Cuomo's Buffalo Billion' economic redevelopment program. 

WBFO News file photo

Panasonic has hired nearly 400-people to work at Tesla's Solar City Riverbend in south Buffalo. Tesla has been cutting back its workforce nationwide in the electric car industry. But last month a career fair was held to hire more Buffalo residents at Solar City. WBFO News asked Mayor Byron Brown if he has confidence in the future of Tesla in the city.  

Tesla Lays Off 9 Percent Of Workforce

Jun 13, 2018

Tesla will lay off about 3,500 workers in an effort to boost profitability, CEO Elon Musk wrote in a company email.

"What drives us is our mission to accelerate the world's transition to sustainable, clean energy, but we will never achieve that mission unless we eventually demonstrate that we can be sustainably profitable," Musk wrote.

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Federal prosecutors in Manhattan have dropped a major bribery charge against two former top executives of developer LP Ciminelli in a corruption case tied to Buffalo Billion funding.


Mike Desmond / WBFO News

Tesla says it is looking for several hundred more workers for its plant in South Buffalo, as production of solar panels and solar roofs increases.

National Public Radio

The electric car manufacturer Tesla sees New York State as the epicenter of growth for the eastern part of the United States. They are driving some of their vehicles across the region this week to promote new state legislation that would allow them to expand.

The Department of Transportation released its revised guidelines on automated driving systems Tuesday, outlining its recommended — but not mandatory — best practices for companies developing self-driving cars.

Marketplace

Erie County is competing in one of the great corporate gold rushes: the fight to grab Amazon's new $5 billion corporate home and potentially 50,000 jobs averaging $100,000 a person.

WBFO's Mike Desmond

There were 800 people registered for the Panasonic job fare Wednesday evening at the Buffalo Employment and Training Center - and more than that came to fill out forms and present resumes - as the company plans 150 hires by the end of August.

SolarCity

The co-founder of SolarCity, now owned by Tesla, is leaving the company.

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