In the aim of creating end-to-end clean energy solutions, Tesla has today confirmed it’s intentions to buy SolarCity, with an offer made of between $26.50 per share and $28.50 per share, giving the company a $2.8 billion valuation. It would be paid for with Tesla stock.
This is not a random solar company – Elon Musk, CEO of Tesla, is also the chairman of SolarCity, and he helped launch the company back in 2006 with his cousins, Peter Rive and Lyndon Rive.
From the Sauce:
“Tesla customers can drive clean cars and they can use our battery packs to help consume energy more efficiently, but they still need access to the most sustainable energy source that’s available: the sun,”
SolarCity shares predictably shot up after the offer, while Tesla stocks were hit a little, dropping by about 12%. What do you think of Elon Musk’s clean energy empire?
Tesla CEO Elon Musk unveiled the much talked about Tesla Model 3 last Thursday night in LA. This car is legit.
This is a 5 seater, super slick mass market electric car that will only cost you $35,000 clams. It’ll cover at minimum 215 miles on one charge, can go 0-60 in less than 6 seconds, and will include autopilot for assisted driving.
Sound like the best thing ever yet?
Charging will be free of charge and by the end of next year the number of charging stations will double worldwide. End of next year is also when the Tesla Model 3 will ship.
You can reserve on now for $1000 clams here, or watch the unveiling here.
You guys heard of Tesla? How about Solarcity or SpaceX? Paypal? Yeah? Well, these are all (in part or wholly) the brainchildren of superhuman Elon Musk. And they’re all awesome companies, building products and producing services that have changed or are changing the world.
And guess what? On April 30th, his company Tesla will be bringing forth a new baby into the world! Tesla is a company that currently makes electric cars, but – wait for it – this new product?
Not a car.
There has been no other hints today as to what this new product could be, however some in the industry are predicting that is will be a stationary battery pack that will be designed to power the home which was mentioned by Musk at an earnings conference call in February. Exciting stuff to be sure, but is that actually what the new product will be?
Only time (and Elon musk) will tell!
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June 21, 2016 5:11 pm | 
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