Buried in Musk Job Cuts Memo: End to Home Depot Solar Sales
(Bloomberg) -- Just four months ago, Tesla Inc. began a major expansion of its solar division at Home Depot Inc., rolling out Tesla-branded selling spaces at 800 of the retailer’s locations. The areas were to be outfitted during the first half of this year and staffed by Tesla employees to demonstrate that its panels and batteries have mainstream appeal.
It was an experiment that would prove short-lived.
Buried in a memo about a major reorganization and job cuts, Tesla Chief Executive Officer Elon Musk said the company has decided not to renew its residential sales agreement with Home Depot. It will instead “focus our efforts on selling solar power in Tesla stores and online,” he said. The majority of Tesla employees working at Home Depot will be offered the opportunity to move over to Tesla’s retail locations, according to the memo.
Home Depot’s relationship with Tesla will continue through the end of the year, and the company “plans to continue offering solar options to our customers,” according to an emailed statement from Steve Holmes, a spokesman for the retailer.
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