Solyndra Sues Chinese Solar Companies, Claiming Conspiracy
The failed Silicon Valley solar company Solyndra is suing China’s three largest solar manufacturers. Solyndra’s lawyers say the Chinese companies conspired to put them out of business.
Solyndra got started back when solar panels were expensive and their main ingredient, silicon, was in short supply. The company started making custom solar panels that didn’t use silicon.
Then, the entire industry changed. Solar panel prices dropped 75 percent and Solyndra went infamously bankrupt last year.
Now, the company’s lawyers say that’s the fault of Chinese solar manufacturers. They’ve filed a $1.5 billion dollar lawsuit in federal court, claiming three Chinese solar companies worked together to flood the US market with cheap panels.
The lawsuit comes at a time of rising trade tensions between the US and China. Last week, the US Commerce Department raised tariffs on solar panels from China, citing illegal subsidies from the Chinese government.