Walmart and Tesla have reached a settlement regarding rooftop solar panel fires

Polycount

TS Evangelist
Staff member

In August, the former filed a lawsuit against the latter for allegedly failing to properly maintain its solar rooftop installations across various Walmart locations.

According to Walmart, Tesla's mistakes led to seven solar panel fires breaking out at a handful of Walmart stores. Naturally, the retail behemoth was none too pleased with this development and aimed to make Tesla pay for its negligence -- figuratively and literally.

However, unlike many legal cases between two major companies, Walmart and Tesla have settled their differences amicably, after just a few short months. A quick resolution was likely desirable for both companies, as -- in the end -- a handful of small solar panel fires is probably not worth a lengthy legal battle. Tesla, in particular, certainly has other things to worry about at the moment, such as turning a profit, worker rights infractions, and potential battery defects in its vehicles.

Of course, we have absolutely no idea what sort of settlement was reached behind closed doors, but Walmart and Tesla both seem quite happy with the outcome. The companies offered the following joint statement to CNBC today:

Walmart and Tesla are pleased to have resolved the issues raised by Walmart concerning the Tesla solar installations at Walmart stores. Safety is a top priority for each company and with the concerns being addressed, we both look forward to a safe re-energization of our sustainable energy systems.

It's unlikely that Walmart would have agreed to a settlement unless Tesla decided to fix the problem, so we're going to assume that the retailer won't be suffering from any more solar panel fires over the coming years. Still, anything is possible, and we'll update you if any other information related to this situation comes to light.

Image credit: Shutterstock (2)

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Uncle Al

TS Evangelist
Another opinion: In legal cases that involve public companies (those that sell stock to the public) ALL legal matters, agreements, & settlements should be made public so the stock holders can determine if they got a fair settlement for their money. After all, anything and everything like this will have an impact on the dividends and other yeilds .... regardless of what the companies might claim .....