 |
| Tesla faces an investigation into the dangers of its solar panels |
The US Securities and Exchange Commission has opened an investigation into why Tesla has not properly educated its shareholders and the public about the fire risks associated with solar panel system failures over the years.
The investigation has put regulatory pressure on the world's most valuable automaker, which faces a federal safety investigation into an accident involving driver assistance systems.
Concerns have already been raised about fires in the Tesla solar system. However, this is the first investigative report issued by the US Securities and Exchange Commission.
The US Securities and Exchange Commission announced its investigation into Tesla in response to a Freedom of Information Act request from Stephen Hincks, a former quality manager for Tesla Sites. The Solar System filed a complaint and asked the agency to provide information on the report.
The Securities and Exchange Commission, in its response to Hinx on September 24, said, “We have assured law enforcement that the investigation into the cases is continuing.
The SEC official said that response should not be taken as a signal to the agency that it has broken the law.
Hynix was Toyota's chief quality officer and was fired from Tesla in August 2020. He sued the company, saying the shooting was in retaliation for safety concerns.
In the complaint, Hinks said that Tesla and SolarCity did not disclose property loss, user injury risks, fire and other responsibilities to shareholders before and after the acquisition.
According to the complaint, Tesla also did not warn the customer that a faulty electrical connector could cause a fire.
The company advised consumers that they need to service the solar panel system to avoid malfunctions that could cause the system to shut down.
Tesla hides safety concerns with solar panels
Hinx said the company did not issue a fire risk warning, nor did it provide for a temporary shutdown to mitigate the risks or notify regulators of the problem.
This issue affects more than 60,000 retail customers and 500 government and business accounts in the United States. This is based on a lawsuit filed last November against unfair dismissal of the company.
Heynckes has been Toyota's Chief Quality Officer in North America for many years. A few months before Tesla bought SolarCity, he joined SolarCity in 2016 as a Quality Engineer. After the acquisition, his responsibilities changed and he realized the prevalence of this problem.
Heynckes said he told the administration that solar systems exposed to fire should be turned off. He also informed the security apparatus. When his proposal was ignored, he continued to complain to the regulator.
In the complaint, he said: "The attorney general warned against discussing the case publicly because it would damage Tesla's reputation. To me it is a crime.
Litigation and concerns about connector failures and problems with solar panel systems go back many years. Walmart said in its 2019 lawsuit against Tesla that the solar system caused 7 warehouse fires.
Some local customers or their insurance companies have sued the company and supplier of Amphenol components due to fires related to the solar system.