EDD website STILL touts Maxeon deal despite massive downsizing

The Maxeon solar deal is perhaps the best example of an unflattering trend in which the MLG administration touts BIG things only to have to back off or change course completely. Her Economic Development Department (EDD) STILL includes a link to the original Maxeon “deal” on its front page. The page includes all manner of additional information tied to the company’s original plans which show no signs of EVER coming to fruition.

That deal involved building a brand new 2 million square foot manufacturing facility at Mesa del Sol. The problem is that back in November Maxeon backed off and said it would instead be moving into a MUCH smaller (110,000 sq. ft.) existing Honeywell facility. We haven’t heard anything about whether that facility is currently being worked on or not although the company “plans to begin solar panel manufacturing in the San Mateo facility in early-2026.”

Maxeon’s business situation certainly hasn’t improved since November of 2024 when the Albuquerque Journal noted that “Maxeon’s stock price was trading at $7.36 per share … a nearly 99% drop in value in 2024.” As of April 10, 2025, Maxeon’s share price had declined even further trading at just $3.18 a share. This has been a steady trend with Trump’s tariffs playing only a small role.

Why won’t EDD update their website? What’s the latest on Maxeon’s efforts to get the old Honeywell Plant ready for production next year? Is Maxeon EVER coming to Albuquerque?