Tesla Completes Acquisition of Solar City

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As of Monday morning, Elon Musk’s Tesla has officially acquired his cousins Lyndon and Peter Rive’s Solar City. Tesla made a simple statement regarding the news:

“We’re pleased to announce that Tesla’s acquisition of Solar City closed this morning.

Shareholders of both companies officially approved the deal last Thursday, though both companies have been operating as effectively unified for some time, with executives of both companies co-presenting new products. Tesla hopes that this acquisition will both positively contribute to its cash balance and be a mutually beneficial opportunity to promote each other’s products.

This recent acquisition is also central to Elon Musk’s “Master Plan” of creating full-stack solutions for customers to fully monopolize their own energy production, storage, and consumption.