A former Tesla (TSLA) quality engineer turned whistleblower says the electric car maker has known for at least four years that some of its solar panels could catch fire but failed to disclose or fix the problem.
On Monday, Reuters revealed that complaints over the alleged hazards filed by the whistleblower are the subject of an ongoing investigation by the U.S. Securities and Exchange Commission. The agency confirmed the investigation in a Sept. 24 letter to the former engineer, Steven Henkes, responding to his Freedom of Information Act request.
“I was made aware through internal documents, third-party engineering reports, that Tesla/SolarCity knew about this problem well before 2017,” Henkes told Yahoo Finance Live.
Tesla acquired Solar City for $2.6 billion in 2016, in a controversial deal that spawned a shareholder lawsuit. The electric car giant's stock was down as much as 6% on Monday following reports of the SEC probe, though it pared its losses by the end of that day.
Henkes said he first learned of problems with defective electrical connectors in December 2017, while working for Tesla as a field quality manager. He says he was fired from the company about three years later in April 2019, after reporting his concerns to government regulators.
Tesla has not responded to Yahoo Finance’s request for comment; however, the company has said it implemented a remediation plan for panel maintenance.
Henkes’ lawyer Robert Wallace...
The DOJ said Takahata TN failed to include employees of its foreign affiliates when it applied for a second-draw PPP loan and forgiveness. SCOTT COUNTY, Tenn. — A Scott County company will pay $2.5...