Tesla Inc. will not renew its residential sales agreement with home improvement retailer Home Depot Inc. so it can focus on selling its solar products at its own stores and online.
Tesla CEO Elon Musk disclosed the move in the same email in which he announced the company's plan to cut about 9% of its workforce as part of a "comprehensive organizational restructuring." On June 12, Musk tweeted screenshots of his email to employees.
Tesla previously set up kiosks at about 800 Home Depot locations to sell its solar panels and Powerwall battery. The outlets were manned by Tesla employees to demonstrate the products.
Musk said the majority of employees at Home Depot locations will get an opportunity to transfer to Tesla retail stores.
