elon musk’s tesla makes £1.91bn bid for solarcity to create clean energy empire - powerwall battery
Tesla has offered to buy SolarCity, the largest residential solar installation company in the United States, to boost its clean energy business.
Elon Musk, the chairman of SolarCity and the biggest shareholder of both companies, wants to create a single "terminal"to-
A clean energy company that puts everything from solar energy to batteries and electric cars under one brand.
He described $2. 8 billion (£1. 91 billion)
Trade as a "brainless" person.
"You can integrate it into one visit instead of going to the house three times to install car chargers, solar panels and battery packs," Musk said . ".
"This is an obvious thing," he added . ".
If the deal is successful, Solar City solar panels will be sold under the Tesla brand.
Customers will be able to purchase Powerwall battery packs for cars, home chargers and Tesla and install solar panels to help generate electricity.
But investors in Tesla don't seem to be too interested in the deal.
After the announcement, the company's share price plunged more than 13 percentage points, worth about $4. 3 billion.
"Ideally, you want to see Tesla focus on Tesla --
Set up Teslas and expand the car, "said Ivan Feinseth, an analyst at Tigress Financial Partners.
"Maybe the feeling is that it's causing people to lose their attention, and that could put economic pressure on Tesla because it's going to need a lot of cash constantly.
Shares in SolarCity rose 18 percentage points after the announcement.
SolarCity run by Linden and Peter river-
Musk's first cousin was about $6.
Debt, including debt and equity, has fallen by nearly 4 billion so far this year.
Musk and the Ryf brothers say they are saving themselves from Tesla's vote
Sun City merger
"Of course, the shareholders will make a final decision," said Mr Lai . ".
"This will only move forward if the non-electoral commission obtains a majority vote
I am a shareholder of the company, "Musk added.
The news came as OpenAI of Elon Musk, an artificial intelligence group valued at $1 billion
Hope to build a robot to clean people's house.
In April, more than 253,000 people also wrote their names for the upcoming Tesla Model 3 electric vehicle, representing a $0. 253 billion pre-order fees.
Pre-customer-
Ordered the car in droves, each paying £ 1,000 for the privilege, hoping to become one of the first to get it after its release at the end of 2017.