Tesla downsizing residential solar business bought for $2.6bn
by Reuters from Technology | The Guardian on (#3STAF)
Company to close facilities and end Home Depot partnership after buying company founded by Elon Musk's cousins
The electric car maker Tesla is sharply downsizing the residential solar business it bought two years ago in a controversial $2.6bn deal, according to three internal company documents and seven current and former Tesla solar employees.
The latest cuts to the division that was once SolarCity - a sales and installation company founded by two cousins of Tesla's CEO, Elon Musk - include closing about a dozen installation facilities, according to internal company documents, and ending a retail partnership with Home Depot that the current and former employees said generated about half of its sales.
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