When in doubt, provoke a new product.
Elon Musk, a CEO of Tesla ( and authority of )SolarCity (, hopped on an gain call Tuesday night amid merger talks between a dual companies to announce that SolarCity skeleton to recover a “solar roof.” )
Not a roof with solar panels, mind you. A solar roof.
“It’s a solar roof as against to a procedure on a roof,” Musk pronounced on a SolarCity gain call. “It’s not a thing on a roof, it is a roof.”
The thought is that instead of only offered solar panels that can be placed on someone’s existent roof, SolarCity can sell a whole roof itself with a solar appetite capabilities built into it, potentially opening adult a whole new market.
“If your roof is impending end-of-life, well, you’ve got to get a new roof anyway,” Musk explained. “And so, because not have a solar roof that’s improved in many others ways as well?”
Tesla done a $2.6 billion bid to buy SolarCity this month to combine dual of Musk’s businesses into an “integrated tolerable appetite company.”
“That they are apart during all, notwithstanding identical origins and office of a same overarching idea of tolerable energy, is mostly an collision of history,” Musk wrote in his updated “master plan” posted to Tesla’s website final month to explain because a dual companies should merge.
In that post, Musk initial teased his long-term devise to build “stunning solar roofs” with SolarCity’s record and have them “seamlessly integrated” with Tesla’s home battery storage technology.
“Solar and battery go together like peanut butter and jelly,” Musk pronounced on a gain call Tuesday.
The acquisition, that needs to be authorized by shareholders, was criticized by some on Wall Street for effectively stringing dual desirous money-losing companies together.
SolarCity’s net detriment grew to $250 million in a second entertain from $156 million in a same duration a year earlier, a association announced in a gain news — before articulate adult a solar roofs.
Likewise, Tesla suggested final week that a waste for a second entertain ballooned to $150 million, some-more than twice what Wall Street had expected, as it invests heavily in building a battery bureau and a cheaper, mainstream Model 3 vehicle.
So naturally Musk followed adult that news by announcing to investors that Tesla will betray not one though two new vehicles in a subsequent 6 to 9 months.
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