Tesla To Acquire SolarCity For $3 Billion

Posted: Jun 22 2016, 1:27pm CDT | by , Updated: Jun 23 2016, 10:10pm CDT, in News | Cars & Vehicles


Tesla to Acquire SolarCity for $3 Billion
Credit: Getty Images
  • Tesla Proposes to Buy SolarCity for $3 Billion

Tesla opting for stability by offering to buy new revenues.

CEO of Tesla has family ties with the owners of SolarCity. He is heading Tesla right now, however he is also the cousin of SolarCity’s co-founders Lyndon and Peter Rive. Thus it looks like a family deal is about to come forward. 

Today Tesla proposed a deal to SolarCity. They offered to buy SolarCity in order to increase the productivity of the company. According to Tesla a merger with SolarCity would be highly compatible for sustainable transportation. It will provide people with high functioning and affordable Tesla motors. 

An exchange ratio of 0.122*0.131 shares of Tesla and Solar City will be given in this stock exchange. The deal if accepted will raise SolarCity’s stock by 21 to 30 percent.

Most of the EV drivers and owners prefer renewable energy resources to make the EV cars. Thus using solar energy will be a much feasible option and much cheaper option for making cars.

Tesla proposes that while working at the SolarCity, the company will be able to provide much better results then ever. The company claims that it will be able to integrate the designs in a much creative way and will be able to prove best quality vehicles while working at state of the art SolarCity. 

It is said that it will be a great fit for both facilities. It’s all we have from this news right now. We will get back to you as soon as we get any updates on the issue. 

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M. Affan covers the hottest news that captivate the web today.




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