tesla set to buy solarcity in controversial $2.6 bn deal to create 'world's only vertically integrated sustainable energy company' - residential energy storage systems

Tesla and SolarCity joined forces as "the only vertically integrated sustainable energy company in the world ". The $2.
The 6 billion bid was first announced at the end of June, but it raised doubts about the motives of Tesla CEO Elon Musk.
Some analysts also questioned whether the deal would divert Tesla's attention from a sharp expansion of electric vehicles.
Car production in the next few years.
CEO esla CEO Elon Musk is a major shareholder of Tesla and SolarCity, led by his cousins at the Clark Summit in Pennsylvania.
In addition, it is planned to sell solar panels, residential and commercial battery storage systems and electric vehicles under one brand.
When Tesla first announced its acquisition of SolarCity, the company explained that the move would "position electric vehicle manufacturers as leaders in clean energy ".
However, the initial offer was about $2.
Shares of both companies fell 7 billion on Monday morning, while Tesla fell 0.
SolarCity fell 4, 4%. 9 percent.
Musk expects that the acquisition of solar panel installer SolarCity will achieve "significant" cost savings and "significant improvement" in manufacturing efficiency ", "Tesla is preparing to expand our Powerwall and Powerpack fixed storage products, and SolarCity is preparing to provide the next product --
Tesla shared "differentiated solar solutions for power generation" in today's announcement ".
"By joining forces, we can operate more efficiently and fully integrate our products while providing customers with beautiful and simple products . "
Stop solar storage experience: one installation, one service contract, one phone app.
Through this merger, Musk expects cost synergies to reach $0. 15 billion in the first year after the final end of the acquisition.
Its goal is to reduce the hardware and installation costs of solar energy products in SolarCity, hoping to attract more customers.
SolarCity is entitled to 45-as part of the agreement-day 'go-
From now until September 14, 2016, the store is allowed to ask for other offers.
But Tesla believes their deal will be put on hold and expects "the deal will end in the fourth quarter of this year ".
If the deal is approved, Tesla will double its workforce to nearly 30,000.
The family alliance may have a lot of potential, but critics have begun to worry that it will start with economic problems.
Tesla and SolarCity are not profitable, according to the Los Angeles Times, because most of the findings are used to raise more money than product sales.
But those involved in the merger seem to think that the plan makes sense because it will allow customers to buy a single unit, "generate electricity" from a Tesla roof installation and store energy in a Tesla battery, and transfer energy to Tesla electric vehicles.
Others believe that Penn can benefit greatly by tagging with Tesla, as the two companies will create one
Stop buying energy storage and electric vehicles to give smaller companies more visibility in the market.
But Tesla said the acquisition would enable it to reduce hardware costs and improve manufacturing efficiency as "the only vertically integrated sustainable energy company in the world ".
"Solar and storage are at their best when combined," Tesla said . ".