Tesla, a multinational automotive and clean energy company, completed the acquisition of SolarCity, a solar energy company, for $2.6bn. "The board of directors of Tesla is excited at the prospect of a potential combination of SolarCity’s business with Tesla. We believe that the possibilities for product, service and operational synergies would be substantial and that a combination would allow our companies to build on our respective core competencies and remain at the forefront of delivering innovative approaches for sustainable transportation and energy. We believe that a combination would generate significant benefits for stockholders, customers, and employees of both Tesla and SolarCity," Tesla's Board of Directors.