Electromobility

Davina Spohn,

Tesla submits billion-euro offer for solar company

The electric car manufacturer Tesla Motors wants to step up its entry into the energy market: On June 21, it made a billion-dollar takeover offer to the US solar company SolarCity - it would pay between USD 26.50 and USD 28.50 per share.

Tesla Motors last attracted media attention at the end of March 2016 when it unveiled its mid-range electric vehicle 'Model 3'.

© Tesla Motors

This offer per share would currently result in a purchase price of 2.6 to 2.8 billion US dollars, which, according to the Californian car manufacturer, corresponds to a premium of 21 to 30% on the closing price on June 20. Tesla intends to pay the amount in its own shares. SolarCity announced that it would carefully examine the offer.

Tesla CEO Elon Musk is no stranger to SolarCity: With a stake of over 20 percent, Musk is already SolarCity's largest shareholder. He also sits on the solar company's Board of Directors as Chairman and was involved in the founding of SolarCity in 2006. The two companies are also intertwined through various partnerships.

According to Tesla, the merger should enable customers to use energy as efficiently and sustainably as possible - both when driving and in their own homes, businesses or stores. Tesla has been offering energy storage systems for private households and businesses since last year. At the end of July 2016, the US car manufacturer also plans to open a battery factory - 'called the Gigafactory' -

in Nevada in order to be able to produce electric vehicles on a larger scale.

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