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Tesla finally unveils Elon Musk’s ‘masterplan’ with SolarCity merger

Elon Musk

A total of $2.6bn has been put on the table as Elon Musk looks to merge his electric car and solar battery companies, all part of his so-called 'masterplan'.

SolarCity has been paired with Tesla and those with shares in the battery company have set Tesla stock at a rate of 0.11 per cent, meaning the Tesla shares are valued at just shy of ten times more.

Musk denied any input in the pricing or negotiation for the companies, owning more than 20 per cent in each.

The Tesla workforce would now number 30,000 people, also succeeding in diversifying its output beyond the auto industry.

The deal is expected to be closed in Q4 this year.

The move has been telegraphed for a while now with Tesla last month hinting at the change by changing its domain name from Tesla Motors to Tesla.

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