Tesla has announced plans to acquire SolarCity for $2.8bn, thereby becoming the world's only vertically integrated energy company offering its customers end-to-end clean energy products. The deal is expected to close in Q3 of this year, and will see Tesla's solar panel business become a subsidiary of SolarCity.
Tesla has announced plans to acquire SolarCity for $2.8bn, thereby becoming the world's only vertically integrated energy company offering its customers end-to-end clean energy products. Tesla's CEO, Elon Musk, said it was a 'no-brainer' to buy the US solar developer.