A few days ago Elon Musk, the billionaire who has founded Paypal, Tesla and Space X, decided to buy SolarCity in order to promote and improve solar electric power. With this intention, it intends to merge these two large companies: Tesla and SolarCity. The car manufacturing company has configured the acquisition by 2.600 million.
In this deal, the largest shareholder is Elon Musk, although each SolarCity shareholder will receive 0,11 Tesla shares for each security. The merger of the two large companies is expected to take place later this year, and Elon says that having the two companies working under the same roof will save more than $ 150 million.
Elon Musk's ambition is great. It intends that each roof of each home has a solar panel for the generation of electricity and that this panel is connected to a battery in the garage to be able to recharge the electric car. He also ensures that this merger will not distract Tesla from his great goal: Becoming a large car manufacturer company powered by renewable energy.
Among Elon Musk and Tesla's projects is to manufacture a truck and an electric bus. Thanks to the upcoming merger of both companies, many innovative products will be able to be manufactured for both residential and commercial areas on a sectoral scale and fully integrated. These products will be able to focus on improving the way energy is generated and stored as both companies are engaged in solar renewable energy generation (SolarCity) and storage (Tesla).
Finally, Musk explained that he wants to make solar roofs on cars so he can promote and innovate in free and green energy to everyone.
“We can't do this if Tesla and SolarCity are different companies, which is why we need to combine and break down the inherent barriers of being two separate companies. Now that Tesla is ready to scale Powerwall and SolarCity is ready to provide clearly differentiated solar power, the time has come to merge them »
Powerwall It is a battery that is used to generate electrical energy in homes.