Bullboard - Stock Discussion Forum Tesla Inc TSLA

Consumer Cyclical Auto Manufacturers

Tesla, Inc. designs, develops, manufactures, sells and leases high-performance fully electric vehicles and energy generation and storage systems, and offers services related to its products. The Company's segments include automotive, and energy generation and storage. The automotive segment includes the design, development, manufacturing, sales and leasing of high-performance fully electric... see more

Add To Watchlist

NDAQ:TSLA - Post Discussion

Tesla Inc > Elon Gets Sued By Shareholders Over Solar City Acquisition

View:

Post by AwareInvestor on Jul 13, 2021 2:03pm

Elon Gets Sued By Shareholders Over Solar City Acquisition

Today I want to talk about the lawsuit between Elon and Tesla shareholders over the Solar City acquisition.

First off, let’s talk about Solar City.

Solar City was founded in 2006 by Peter and Lyndon Rive, both cousins of Elon Musk. They focused heavily on door-to-door sales of leased systems. Under this model customers paid nothing upfront but agreed to purchase power generated from said panels for 20 years; and often received a discount relative to their previous power price.

The model became so successful that at one point Solar City was the largest residential Solar installer in America. So in 2016, Tesla announced that it would be acquiring Solar City in a $2.6B all stock acquisition.

https://thedeepdive.ca/elon-gets-sued-by-shareholders-over-solar-city-acquisition/

110