Tesla and SolarCity reach agreement on acquisition of $ 2.6 billion

Aug

1

2016

Tesla and SolarCity have reached an agreement on the sale of the solar energy company for $ 2.6 billion, the equivalent of some 2.3 billion euros. CEO Elon Musk wants to fully integrated products manufacturing companies that way.

Although the managements of the companies agree, SolarCity has a 45-day period in which it can accept a bid from another party. The shareholders must go approved the acquisition, as appropriate regulators. Therefore, it is expected that the deal late this year is completely round. Elon Musk is both CEO of SolarCity and Tesla and has spent most of the shares it holds. He had previously know that he abstains from voting.

In a press release writes Tesla that the two companies work best. Where Tesla focused on storage and SolarCity solar energy, the merged company to deliver integrated products to “generate, store and consume energy. This step is also part of the “master plan” of Musk, which he recently presented .

It Musk said that there are plans for “great-looking” to create solar panels for roofs, in which a battery is integrated. In the current post Tesla mentions that another advantage of the merger is that greater efficiency can be achieved and that customers have a single point of contact for the installation of a solar panel.

Viewing:-69

In: Technology & Gadgets Asked By: [15197 Red Star Level]

Answer this Question

You must be Logged In to post an Answer.

Not a member yet? Sign Up Now »