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@TeslaMotors $TSLA and @SolarCity $SCTY to Merge in $2.6B Deal

@TeslaMotors Offers to Acquire @SolarCity $SCTY for $2.8B, $TSLA Drops 10.45%

CNBC reported. The offer is based on an exchange ratio of 0.122x to 0.131x shares of Tesla common stock for each share of SolarCity common stock. It represents a value of $26.50 to $28.50 per share, or a premium of 21% to 30% over the closing price of SolarCity’s shares, based on the closing price of SolarCity’s shares on June 20, 2016 and the 5-day volume weighted average price of Tesla shares. “Tesla’s mission has always been tied to sustainability. We seek to accelerate the world’s transition to sustainable transportation by offering increasingly affordable electric vehicles. And in March 2015, we launched Tesla Energy, which through the Powerwall and Powerpack allow homeowners, business owners and utilities to benefit from renewable energy storage,” the company said in a statement. A combination of Tesla and SolarCity “would be the world’s only vertically integrated energy company offering end-to-end clean energy products to our customers,” Tesla says. “This would start with the car that you drive and the energy that you use to charge it, and would extend to how everything else in your home or business is powered.” “With your Model S, Model X, or Model 3, your solar panel system, and your Powerwall all in place, you would be able to deploy and consume energy in the most efficient and sustainable way possible, lowering your costs and minimizing your dependence on fossil fuels and the grid,” it added.]]>

Global EV Market Reaches 740,000 Cars, Led by US

Global EV Market Reaches 740,000 Cars, Led by US

ELectric-Car-Top-5-Models The US saw one of the highest absolute growth rates with another 117,000 EVs registered in 2014, bringing the total to around 290,000, a 69% increase. The USA continued to claim the top spot for overall EV take-up. Global EV Market April 1 2015Registrations in China also increased, with nearly 54,000 more electric vehicles bought in 2014, bringing the count up to just short of 100,000, an increase of around 120%. China’s fleet puts it third in the league table, just behind Japan, where the 100,000 mark in electric cars has been exceeded, but at a relatively low growth rate of 45%. The researchers added that market incentives in these countries have helped push up registrations. In contrast, a lack of incentives has resulted in Germany taking just seventh place in absolute numbers (around 29,600 cars) and eighth in new registrations (around 11,700). As in preceding years, Norway remains a pioneer this trend. The number of electric cars there rose 113% to a total of 43,400. Some 2.64 million automobiles are registered in the Scandinavian country, just over 1.6% – making it a world leader in percentage share.  (Sources: ZSW, EV FleetWorld)]]>