Newspaper article International New York Times

Musk Plans to Bring 2 of His Ventures Together

Newspaper article International New York Times

Musk Plans to Bring 2 of His Ventures Together

Article excerpt

The entrepreneur argues a "sustainable energy company" comprising the two ventures makes sense, but investors may take some convincing.

Elon Musk has built an ambitious business empire on three pillars: electric cars, solar energy and space travel.

Now, Mr. Musk, the billionaire entrepreneur, is trying to shore up his embattled solar panel provider by merging it with the electric carmaker.

His Tesla Motors said on Tuesday that it had offered to buy SolarCity in an all-stock deal, one that could value the latter at as much as $2.8 billion. The aim, Mr. Musk said, was to create a renewable-energy giant, collecting clean electricity and putting it to work propelling cars.

In Mr. Musk's view, putting Tesla and SolarCity together is only logical.

"We need to achieve a tight integration of the products," he told reporters in a conference call on Tuesday. …

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