Tesla (TSLA) pays $6 million to settle Solar Roof class action lawsuit
The lawsuit goes back to sudden price hikes on Solar Roofs in 2021.
Back in 2021, Tesla made the decision to increase prices on its Solar Roof product, conveniently after several customers had already agreed to have them installed in their homes. This led to a class action lawsuit against the electric vehicle manufacturer that has finally been settled after a two-year back-and-forth. Tesla will pay $6 million as a result of the class action lawsuit.
A report from CNBC revealed that Tesla will end up forking over $6 million dollars to customers as a result of the class action lawsuit. As things went, Solar Roof customers had already made contractual agreements to have them installed in their homes, and paid for them, but ended up having to pay even more cash after Tesla’s surprising move to increase prices. While the backlash led to the EV company reversing the price hikes for some, several customers were still left holding the bag.
Source: Tesla
According to the court filings, one customer signed a contract to pay $72,000 for a Solar Roof installation, only to have the price jacked up to $146,000 afterwards. The court approximates that 8,636 Tesla customers were impacted by the Solar Roof price hike. Of those, roughly 6,300 customers canceled their orders after the price hike.
Tesla having to payout $6 million following a class action lawsuit isn’t the only major tech news to come out of San Francisco courts today. The judge ruling over the Microsoft and FTC trial officially blocked the latter’s efforts to prevent the Activision Blizzard acquisition from going through, scoring Microsoft a major win in its efforts to own the publisher behind franchises like Call of Duty and Overwatch. Stick with Shacknews for more of the interesting stories in the world of technology.
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