Tesla merges with Solar City in a $2.6 billion deal

Tesla confirms that it will acquire Solar City for $2.6 billion.

@anthony256
Published Mon, Aug 1 2016 8:28 PM CDT   |   Updated Tue, Nov 3 2020 11:59 AM CST

Tesla has committed to its plans of being the world leader in electric vehicle and battery technology, and has now increased that power by acquiring Solar City for $2.6 billion.

Tesla merges with Solar City in a $2.6 billion deal | TweakTown.com

The new merged business will sell solar panels, Powerwall batteries that store the collected energy from the sun, and the electric cars like the Model S. Elon Musk did promise in his "Master Plan Part Deus" two weeks ago that we would see an "end-to-end clean energy" solution - doing what no other companies are doing right now.

Solar City recently said it will introduce an "integrated solar and storage offering", and a new solar product that is "focused on the 5 million new roofs installed each year in the US". Musk has said that any merger wouldn't cause issues for its plans on the Model 3 EV and Gigafactory, with the latter just opening recently.

NEWS SOURCE:engadget.com

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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