Tesla intends to reduce the sales of solar panels

The American company Tesla will partially reduce the business of sale and installation of solar panels, Reuters reports citing internal documents of former and current employees of the company. To reduce costs and achieve profitability, last week, Tesla said about a downsizing of 9% of employees, which is carried out as part of the overall staff reduction plan. In 2016, Tesla acquired SolaryCity for $2 billion 600 million, on the basis of which it established a division for the sale and installation of solar panels. According to internal documents, Tesla plans to close 14 branches in various states, leaving 60 branches operating. The company intends to cease cooperation with the network of construction materials stores Home Depot and will sell the panels through its own stores.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong