According to foreign media reports, electric car company Tesla officially announced on Monday that it will acquire solar panel company SolarCity for US$2.6 billion. SolarCity has also officially become a wholly-owned subsidiary of Tesla. According to Tesla CEO Elon Musk, this merger is an important part of his future blueprint. Tesla acquires SolarCity for $2.6 billion (picture from Google) After the acquisition, Tesla plans to provide a one-stop shop for most clean energy users. The purpose of the transaction is to create a vertically integrated company with a nationwide retail network that sells electric vehicles, rooftop solar systems, and wall-mounted energy storage devices for homes and charging stations. Most of these products will be manufactured by Tesla. On Monday, SolarCity shares fell 7.4% to $24.72. The company also lowered its outlook for this year. Tesla shares fell 2% to $230.01. Previously, Muske’s willingness to acquire SolarCity was questioned by the majority of Tesla shareholders. Shareholders believe that Tesla should add two independent directors on the board of directors and decentralize the CEO and the chairman of the board to break the current "dictatorship" of Elon Musk, and this time dissatisfied with the main guide FireWire is the resolution to acquire SolarCity. Last month, Musk disclosed the latest version of The Secret Blueprint, and Tesla will expand the field of driverless cars and car sharing. Clearly, in the driverless arena, solar panels are critical for unmanned vehicles. Musk hopes to use the combined company to provide users with a unified source of hardware to promote people's low-carbon lifestyle.
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