Perfect match? :Tesla acquiring SolarCity means greater economies of scale in electrical energy management systems, battery production and marketing.
LOS ANGELES: Tesla Motors Inc Chief Executive Elon Musk won approval on Nov 17 from the electric luxury automaker's shareholders for an acquisition of SolarCity Corp, the solar energy system installer in which he is the largest shareholder.
The stock swap deal, worth about US$2bil (RM8.84bil), caps a tumultuous year for Musk and Tesla. The proposed acquisition of SolarCity, a money-losing installer of residential solar power systems, prompted a 13% fall in Tesla's share price after Musk outlined the deal in June.
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