Tesla solar panels fired on Amazon stock in 2018: report
Inventory at a warehouse
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Tesla solar systems allegedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans to buy solar power systems from Tesla.
The news, first reported by Bloomberg, follows a violent week for Elon Musk's renewable energy and electric vehicle company. On Tuesday, Walmart sued Tesla over solar panels that ignited the top seven of the stores in recent years. Tesla and Walmart have been partners in clean energy efforts for many years; more than 240 Walmart stores have Tesla solar systems installed.
In its complaint, Walmart claimed that: "Tesla distributed routine individuals to inspect the solar systems that lacked basic solar training and knowledge."
In the suit, they also claimed that Tesla failed to properly ground solar and electrical systems, and that Tesla-installed solar panels on-site at the Walmart stores contained a large number of faults visible to the naked eye and which Tesla must have found and repaired before leading to fires.
However, in a statement Thursday, Walmart and Tesla said they "look forward to addressing all issues and providing energy to Tesla solar power installations in Walmart stores, once all parties are confident that all concerns have been addressed." [1[ads1]9659002] It's not clear whether Amazon will extend Tesla's same courtesy.
Amazon confirmed that it has only a small number of solar systems installed by Tesla, and implemented measures where those systems were installed to protect both workers and operations.
Tesla did not immediately return comment requests.
The electric vehicle manufacturer is currently disputing shareholders for the $ 2.6 billion acquisition of SolarCity in 2016. Rampant problems with Tesla's Solar business could bolster the arguments of shareholders who viewed it as a bad deal.
Gordon L. Johnson, CEO of The Vertical Group and a tough Tesla bear, said:
"With Boeing, two 737 Max jets went down. Besides those, there were probably thousands of 737 Max jets that took off and landed safely, but the fear of this potential caused Boeing to ground all their jets. In my opinion, these fires create a potentially significant headwind for Tesla and potentially serious legal obligations. "
His company estimates that Tesla's liabilities between $ 250 million and $ 1 billion, taking into account the Walmart lawsuit and other claims and complaints he expects will arise in Tesla's solar power business following news of these fires.
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