Walmart sues Tesla due to a fire involving solar panels

• Walmart Sues Tesla due to a fire involving solar panels

The largest US retailer Walmart Sues Tesla company because of the fire set by its solar panels that Elon Musk calls "printer for the money." Due to the "systematic negligence" and unskilled employees Tesla stores in seven fires took place, which caused damage to a million, according to a lawsuit

The American supermarket chain Walmart sues Tesla, writes the Financial Times. Retailer to install solar panels on the company's billionaire Elon Musk on the roofs of 240 of its stores. However, the case of fire, the battery occurred in seven stores, with the result that was destroyed a significant amount of goods and caused damage to the premises. It cost Walmart millions of dollars, according to the lawsuit.

Back in May 2018 Walmart demanded that Tesla disconnected solar panels in stores, when it became apparent that there were "violated obligations under the contract," according to the lawsuit. The company has hired its own consultant, who, together with the Tesla conducted inspections in stores. Inspection "showed that Tesla showed systematic negligence and could not comply with industry standards of caution when working with solar panels - because of the risk of fires in Walmart stores has increased significantly," the company said in the lawsuit. Walmart says that "the Tesla regularly sent for inspection of solar panels those who did not have the basic training and knowledge." In addition, the company still did not provide "the final root cause analysis" occurred fires, according to the lawsuit. Tesla on request Financial Times did not answer.

The largest US retailer started buying solar panels from Solar City in 2010. Tesla acquired the company in 2016 for $ 2, 6 billion. Many analysts speak of a possible conflict of interest, since at the time of purchase of the mask in SolarCity already owned a 20% stake. In addition, he was a member of its board of directors.

Sunny "printer for the money"

The lawsuit adds Mask "headache" in connection with the controversial deal to buy SolarCity, writes the FT. For the billionaire this acquisition was a key step towards the creation of a "conglomerate of renewable energy", the newspaper reminds. However, the company is still working on a new generation of panels, which Musk said even during the transaction, and is reviewing its approach to customer service in an attempt to order and install the panels easier. Last weekend Musk wrote about lowering prices, and "restart" the business, now called Tesla Solar. The billionaire pledged to make the price of the battery is so low that for the residents of the regions with the high prices of electricity panel will turn into a "printer for the money on the roof." "One click - and you save $ 500 a year in the accounts without signing long-term contract at the same time (to give up at any time)," - wrote Musk in his Twitter.

Financial Times also reminds SolarCity debt passed to Tesla after buying the company. We are talking about $ 556 million of convertible bonds, which the company is obliged to pay off in November this year. By entering into a transaction, the Tesla informed the shareholders that the profit from the installation of solar panels to exceed the debt, which remained from the previous owners.