SolarCity purchase under threat as Tesla shareholders file four lawsuits in two weeks, alleging the company’s board breached fiduciary duties
Southern California Edison awards Tesla Motors contract to build 20MW energy storage system in California before the year is out; new facility will provide renewed stability of energy supply following Aliso Canyon disaster last October.
Used electric vehicle (EV) batteries could soon be on the market at a significantly reduced cost that competes with brand new energy storage systems, according to a Bloomberg New Energy Finance (BNEF) report.
Despite its thirteenth quarterly reverse on the spin, Tesla chairman and chief executive Elon Musk predicts Tesla and SolarCity will create an automotive-energy giant worth US$1 trillion.
Tesla Motors’ proposed US$2.6 billion purchase of SolarCity could “substantially” increase SolarCity’s sales, reckons industry veteran Jigar Shah, clean energy entrepreneur and founder of SunEdison.
Tesla Motors’ US$2.6 billion all-stock offer for SolarCity this week raised questions, as both firms’ share prices slumped on the announcement, and markets reflected a sense of both awe and unease at the proposed deal. GTM Research director of energy storage Ravi Manghani considers these questions, through the prism of Tesla chief Elon Musk’s self-titled ‘master plan, part deux’.
Tesla Motors’ possible acquisition of leading US residential PV installer SolarCity has been sealed with an all-stock transaction valued at around US$2.6 billion.
Tesla’s second Master Plan will be mostly funded by sales of its vehicles, particularly the new electric vehicle, the Model 3, chief executive Elon Musk said during a soft launch of the enormous ‘Gigafactory’ in Nevada on Tuesday.
It’s no surprise that Elon Musk’s announcement that he was working on Tesla’s second master plan was met with great anticipation. Lux Research’s Chris Robinson looks in depth at the new strategy, which included autonomy, solar power, some vehicles we expected, and some vehicles we didn’t.
Elon Musk has revealed the widely anticipated sequel to the ‘Master Plan’ that he wrote almost 10 years ago, where he finally pieces together the missing pieces of the energy puzzle; uniting batteries and electric cars with solar power.
