Reportedly last week, Wal-mart Stores, Inc. (WMT) filed a lawsuit against Tesla (TSLA) accusing it of faulty panel installations, that led to a fire at two of its stores in May 2018. Walmart had leased or licensed roof space for approximately more than 240 stores to Tesla’s energy unit for installation. Both Tesla and Walmart issued a joint statement on the matter, stating “Both companies want each and every system to operate reliably, efficiently, and safely,”.
It’s not only Walmart, but Amazon.com also reported a solar panel system failure that was installed by Tesla’s SolarCity division causing a fire on the roof of one of its warehouses in Redlands, California in June 2018.
Tesla acquired SolarCity, a solar panel installer, three years ago in a $2 billion deal.
Wal-mart Stores, Inc. (WMT) is a worldwide retailer that operates in various formats. The three segments of the company include Wal-mart U.S., Wal-mart International, and Sam’s Club. The company is comprised of discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, apparel stores, drug stores, convenience stores, and membership-only warehouse clubs; and retail Websites. To learn more about Walmart (WMT) and to continue to track its progress please visit the Vista Partners Walmart Coverage Page.
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