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Tesla downsizing solar operations?

by Justin King

The company is reportedly closing a dozen installation facilities and pulling out of Home Depot stores.

Tesla is reportedly downsizing its solar operations as the company pushes for profitability with its core car business.

The California-based automaker bought SolarCity just two years ago for $2.6 billion. The company pitched the acquisition as an ideal complement to electric vehicles, though some critics argued the move would bring undue risk during a critical growth stage.

Tesla's recent staff reductions reportedly aligned with cuts to the solar division, according to a Reuters report. The company is said to be closing at least a dozen installation facilities, while terminating a Home Depot partnership that allegedly accounted for around half of all sales.

"We continue to expect that Tesla's solar and battery business will be the same size as automotive over the long term," the company said in a statement.