Tesla makes bid for SolarCity

Jun

22

2016

Carmaker Tesla Motors wants to take SolarCity. Tesla CEO Elon Musk has been the largest shareholder of the solar energy, but will abstain from voting on the acquisition. Tesla has about 2.5 billion euros for SolarCity.

Tesla makes next to cars already the Power Wall System that allows consumers at home can store renewable energy. By acquiring SolarCity could offer the required solar panels the company himself.

Tesla has a bid of 26.50 to $ 28.50 per share issued . This brings the total to an amount between 2.6 and 2.8 billion dollars. Which amounts to about 2.5 billion euros. Shareholders must still approve the acquisition. Elon Musk is itself the largest shareholder of both companies, but will abstain from voting.

SolarCity was founded in 2006 by Peter and Lyndon Rive, cousins ​​of Elon Musk. Musk himself is chairman of the company. The end of 2015 presented him as CEO of SolarCity solar panels that should be cheap and efficient. However, the construction of the $ 900-million factory where the panels must be made ​​is postponed . The making of the equipment for the production would be more difficult than expected.

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