Tesla acquires SolarCity in a $2.6 billion deal

Tesla is buying SolarCity, a company selling solar power systems for homes and businesses. The electric car maker will shell out $2.6 billion (£1.97bn). Tesla’s founder and CEO, Elon Musk, is the same person that is also chairman and the largest stakeowner of SolarCity. So basically, Musk is merging his two companies into one which will offer "end to end clean energy solutions". SolarCity was founded by Musk’s cousins, CEO Lyndon Rive and director Peter Rive. You’ll have a business that will sell solar panels for you to generate clean electricity, Powerwall batteries where you’ll be able to store excess energy, and… [Continue Reading]