· Tesla acquires solar panel supplier SolarCity approved

According to the US auto magazine Motertrend reported on August 25, the US Federal Trade Commission (FTC) announced that it has approved Tesla's acquisition of solar panel supplier SolarCity. Tesla announced on August 1 that it plans to acquire SolarCity, a solar panel company, for $2.6 billion, a move aimed at paving the way for Tesla CEO Elon Musk's clean energy program.
In order for the acquisition to pass, the US Federal Trade Commission must confirm that the acquisition will not cause any antitrust concerns. The reason for the final approval was that “there are only a few (almost negligible) overlaps in the business of the two companies”. For SolarCity, which has suffered losses for five consecutive years, the increasingly fierce competitive pressure has led to hundreds of layoffs. In addition, many states have reduced subsidies for rooftop solar installations. After comprehensive consideration, SolarCity finally agreed to accept the merger. proposal.
In Tesla's grand blueprint, Musk outlined his M&A strategy to become a one-stop new energy supplier. Mask said it hopes to provide customers with "fully integrated solar power services." To this end, Tesla must combine several services to achieve a single mobile phone APP can be scheduled, one-time installation of solar panels, and provide follow-up one-stop service.
Now that it has been approved by the US Federal Trade Commission, what Tesla is going to do is submit a written submission to the US Securities and Exchange Commission. After that, all Tesla shareholders will vote on the next day to determine the final merger results.