Quantcast
Environmental News for a Healthier Planet and Life

Help Support EcoWatch

Tesla, SolarCity Merger Approved by Shareholders

Energy
Tesla, SolarCity Merger Approved by Shareholders

Shareholders approved the $2.6 billion bid by Tesla Motors to buy SolarCity, paving the way for the clean energy giant to become a one-stop shop for electric vehicles, rooftop solar and energy storage.

"I think your faith will be rewarded," Elon Musk said after the merger was approved by 85 percent of the company's unaffiliated shareholders.

"We can't do this well if Tesla and SolarCity are different companies, which is why we need to combine and break down the barriers inherent to being separate companies," Musk said in August when Tesla announced it closed the deal with SolarCity. "That they are separate at all, despite similar origins and pursuit of the same overarching goal of sustainable energy, is largely an accident of history. Now that Tesla is ready to scale Powerwall and SolarCity is ready to provide highly differentiated solar, the time has come to bring them together."

Next year, Tesla plans to begin rolling out the $35,000 Model 3 sedan and a new solar roof.

For a deeper dive:

LA Times, Reuters, CNBC, USA Today ,Wall Street Journal, Bloomberg, Financial Times, Greentech Media

For more climate change and clean energy news, you can follow Climate Nexus on Twitter and Facebook, and sign up for daily Hot News.

The Metronome, a famous art installation in Union Square that used to display the time of day, has been repurposed into a "Climate Clock" for Climate Week NYC. Zack Winestine

By Jessica Corbett

This story was originally published on Common Dreams on September 19, 2020.

Some advocates kicked off next week's Climate Week NYC early Saturday by repurposing the Metronome, a famous art installation in Union Square that used to display the time of day, as a massive "Climate Clock" in an effort to pressure governments worldwide to take swift, bold action to reduce greenhouse gas emissions and rein in human-caused global heating.

Read More Show Less

EcoWatch Daily Newsletter

Ruth Bader Ginsburg speaks onstage at the event Fourth Annual Berggruen Prize Gala Celebrates 2019 Laureate Supreme Court Justice Ruth Bader Ginsburg in New York City on Dec. 16, 2019. Ilya S. Savenok / Getty Images for Berggruen Institute

The passing of U.S. Supreme Court Justice Ruth Bader Ginsburg means the nation's highest court has lost a staunch advocate for women's rights and civil rights. Ginsburg was a tireless worker, who continued to serve on the bench through multiple bouts of cancer. She also leaves behind a complicated environmental legacy, as Environment and Energy News (E&E News) reported.

Read More Show Less

Trending

Project goal: To create an environmentally friendly and sustainable alternative to leather, in this case using fungi.

Read More Show Less
Plastic waste is bulldozed at a landfill. Needpix

The plastic recycling model was never economically viable, but oil and gas companies still touted it as a magic solution to waste, selling the American public a lie so the companies could keep pushing new plastic.

Read More Show Less
54% of parents with school-age children expressed concern that their children could fall behind academically, according to a poll conducted over the summer of 2020. Maria Symchych-Navrotska / Getty Images

By Pamela Davis-Kean

With in-person instruction becoming the exception rather than the norm, 54% of parents with school-age children expressed concern that their children could fall behind academically, according to a poll conducted over the summer of 2020. Initial projections from the Northwest Evaluation Association, which conducts research and creates commonly used standardized tests, suggest that these fears are well-grounded, especially for children from low-income families.

Read More Show Less

Support Ecowatch