Elon Musk took a lot of heat last year when his Tesla Inc. bought solar-panel installer SolarCity for $2 billion. The synergies between his two companies didn’t seem immediately obvious, among other issues, critics said.
SolarCity Corp., the rooftop solar developer controlled by Elon Musk, was accused of misappropriating trade secrets and other intellectual property in a lawsuit over the development of shingled-cell solar modules.
SolarCity has raised $305million to to fund its projects.
Tesla Motors said it has won US antitrust approval to buy solar panel installer SolarCity Corp.
Tesla Motors said it has reached a deal to acquire SolarCity for $2.6billion.