Elon Musk reveals prototypes of the Tesla Solar Roof on October 28, 2016
Walmart sued Tesla for breach of contract in August in a New York state court, accusing Tesla of negligence and faulty installation, and asking the company to shoulder the costs of removing their solar panels from more than 240 Walmart stores to avoid further fires.
In a joint statement, shared with CNBC by Walmart, the companies said on Tuesday:
“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.”
When news of the lawsuit first emerged, Tesla shares dipped. On Tuesday, following the settlement announcement, Tesla shares were inching higher in…