Perfect match? :Tesla acquiring SolarCity means greater economies of scale in electrical energy management systems, battery production and marketing.
SAN FRANCISCO: Tesla Motors Chief Executive Elon Musk is buying US$65mil (RM261.59mil) of bonds from SolarCity Corp in the latest debt offering by the solar panel company that Tesla plans to acquire for US$2.6bil (RM10.46bil), according to a filing on Aug 23.
Musk's purchase of the so-called "solar bonds" comes after money-losing SolarCity last week said it would cut operating costs to bring expenses in line with its reduced solar installation outlook.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
