[ref http://electric-vehicle-discussion-list.413529.n4.nabble.com/EVLN-Tesla-to-buy-SolarCity-gt-single-visit-installs-EVSE-PVs-amp-powerwall-td4682751.html ]
'Musk & Rive hatched the SolarCity idea during a 2004 Burning Man festival trip' 'Folding SolarCity into Tesla to boost both' 'Musk is pioneering a 21st-century version of what U.S. industry was' 'Musk sez The world lacks for sustainable energy companies' http://www.reuters.com/article/us-solarcity-m-a-tesla-idUSKCN0Z72WP Tesla offers $2.8 billion for SolarCity in 'no brainer' deal for Musk Jun 21, 2016 NICHOLA GROOM AND PAUL LIENERT [image] Elon Musk, chairman of SolarCity and CEO of Tesla Motors, speaks at SolarCity's Inside Energy Summit in Manhattan, New York October 2, 2015 / REUTERS/RASHID UMAR ABBASI/FILE PHOTO Elon Musk on Tuesday sought to build a clean energy powerhouse as his electric car maker, Tesla Motors Inc, made an offer to buy his solar installation firm SolarCity Corp in a stock deal worth as much as $2.8 billion ... Musk, who is the chairman of SolarCity, CEO of Tesla and the largest shareholder of both companies, described the deal as a "no brainer" in a call with reporters. The company could sell customers an electric car, a home battery and a solar system all at once, he said. "Instead of making three trips to a house to put in a car charger and solar panels and battery pack, you can integrate that into a single visit," Musk told reporters. "It's an obvious thing to do." ... "Ideally you want to see Tesla focus on Tesla - building Teslas and expanding the cars," said Ivan Feinseth, an analyst at Tigress Financial Partners. "Maybe the feeling is that this takes away focus, and it could financially strain Tesla, which is going to continually need a lot of cash." SolarCity has about $6.24 billion in liabilities, including debt. Tesla executives said its predictable cash flow in the form of payments for its solar systems pays for the debt. Although it is the U.S. market leader in residential rooftop solar systems, it regularly posts quarterly losses and the stock has fallen nearly 60 percent so far this year, pummeled by investors who see its business model as too complex in a market that has become increasingly competitive. Musk said Tesla did not know how many of its customers have solar panels, but guessed that most of them were likely interested in solar. In a blog, Tesla described the deal as a way to expand both companies' markets. The solar systems will be sold under the premium Tesla brand, which is seeking to expand its target market with a $35,000 electric vehicle called the Model 3 that it will begin delivering late next year. Musk, who owns 19 percent of Tesla and 22 percent of SolarCity, said he would recuse himself from voting on the deal. He could not say how soon shareholders could vote on the deal, as due diligence needs to take place first. SolarCity CEO Lyndon Rive, Musk's first cousin, said he supported the deal but would also recuse himself from voting. Rive's brother, Peter, is also a founder of the company and its chief technology officer. Musk and Lyndon Rive hatched the idea for SolarCity during a trip to the Burning Man desert festival in 2004. Over a decade later, SolarCity has become the top U.S. residential solar installer thanks to a no-money-down financing scheme that allows homeowners to pay for their solar panels through a monthly fee that is less than what they would pay their local utility ... In a statement issued late Tuesday, Tesla said its management will host a conference call to discuss the 'rationale' surrounding the offer to buy SolarCity. The conference call is scheduled to take place Wednesday morning before U.S. markets open. (Reporting by Subrat Patnaik and Aurindom Mukherjee in Bengaluru, Paul Lienert in Detroit and Nichola Groom in Los Angeles; Editing by Bill Rigby, Peter Henderson and Sunil Nair) [© 2016 Reuters] ... http://www.ft.com/cms/s/0/184f2de8-37fe-11e6-a780-b48ed7b6126f.html#axzz4CHb3oLBQ Elon Musk to use Tesla to buy out his SolarCity June 21, 2016 ... Folding SolarCity into Tesla would boost both ... https://en.wikipedia.org/wiki/Lyndon_Rive Lyndon Rive is the co-founder and CEO of SolarCity ... ... [images dated http://webbery.com/galleries/burningman/bm04/ burning man 2004 photos by patrick roddie https://www.google.com/search?q=2004+Burning+Man+festival&tbm=isch image search 2004 Burning Man festival video https://www.youtube.com/watch?v=tTuTf2TmV9Q Burning Man Festival 2004- 2008 - 9:04 Aug 24, 2009 - Uploaded by Shaman Burning Man Festival 2004- 2008 ... Burning Man Festival - music: Home by Edward Sharp & Magnetic Zeros ... links http://mashable.com/2014/08/22/burning-man-2014/#5xWvAm.nW5q3 Burning Man Isn't What You Think, and Never Has Been AUG 22, 2014 http://dodgeandburn.gawker.com/burning-man-sex-drugs-sex-drugs-sex-and-more-drugs-and-1286471513 Burning Man: SEX DRUGS SEX DRUGS SEX AND MORE DRUGS AND SEX 9/11/13 http://burningman.org/timeline/ Timeline | Burning Man (1986-present) https://en.wikipedia.org/wiki/Burning_Man Burning Man is an annual gathering that takes place at Black Rock City—a temporary community erected in the Black Rock Desert in Nevada ... ] http://www.slate.com/articles/business/the_juice/2016/06/tesla_wants_to_buy_solarcity_because_elon_musk_is_an_old_school_industrialist.html Elon Musk Isn't a Futurist. He's an Old-School Industrialist. JUNE 22 2016 Why Tesla Wants to Buy SolarCity Because Elon Musk is a surprisingly old-school kind of industrialist. Electricity without emissions. These are the respective promises of the electric car and renewable energy ... Musk is trying to pioneer a 21st-century version of what American industry did to such great effect in the late-19th and early-20th century ... ... https://www.wired.com/2016/06/tesla-solar-city-elon-musk/ Tesla's Done Being an Automaker—It's Now an Energy Company 06.23.16 ... Tesla is playing the long game. “The world does not lack for automotive companies,” Musk said Tuesday. “The world lacks for sustainable energy companies.” ... 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