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It’s no surprise. Tesla Motors makes electric cars. Tesla Energy was formed last year to make and market energy storage systems; its Powerwall and Powerpack systems for homes and businesses use the same battery packs as the Tesla cars. Battery packs that Tesla makes.
Tesla co-founder and chairman Elon Musk owns 21 percent of that company and 22 percent of SolarCity, where he also serves as CEO. One of his cousins, Lyndon R. Rive, is Solar City’s CEO.
Bringing SolarCity completely into the Tesla family through the proposed acquisition, an all- stock deal valued at up to $3 billion, will close the loop.
If the acquisition is approved, Tesla companies and products will “make” energy, store it and use it.
Tesla’s cars also are likely to be able to send some of the energy in their batteries back to the Tesla stationary energy storage systems when needed.
Look for Tesla to soon announce a two-way power system for its cars.
That will enable them to send electricity stored in their batteries back to the Tesla Powerpack or Powerwall when electricity for a home or business is needed more than is juice for the car. In cases, for instance, of power outages during heatwaves or natural disasters. Or just when power from the electrical grid is really expensive and the cheaper power in stored he Tesla car – from SolarCity renewable solar energy, let’s say – is available because the car is parked.
SolarCity also is likely to become the preferred retailer and installer of Tesla’s proprietary home and commercial energy storage and electric vehicle charging systems.
The deal must be approved by a majority of the companies’ disinterested shareholders, meaning Musk can’t vote.