ELon Musk very confident on the merger of Tesla Motors and SolarCity

According to the latest reports, Tesla Motors (NASDAQ:TSLA) founder Elon Musk said in the recent statement that he is “pretty optimistic” on the chances that the shareholders will support a $2.6 billion deal to takeover solar panel company SolarCity.

One of the biggest entrepreneur in US, who is the chairman of both firms, said he would be astonished if the agreement did not go through next month. Tesla’s Investors are set to vote on the agreement on 17 November.

The proposed deal will help to grow the electric car-maker its clean energy business. However certain shareholders were voicing against the deal, arguing it is a conflict to combine two of Mr Musk’s firms.



Mr Musk, who owns large stakes in both businesses, said in his very recent interview, “I’m pretty optimistic about where the vote’s going, the early votes so far have been overwhelmingly in favour. I would find it quite strange if that didn’t turn out to be the case.”

He announced this statement after the car-maker released further details about the deal, counting estimates that SolarCity could add $1 billion of extra income to Tesla next year.

Following the deal both firms will move towards “accelerating the world’s transition to sustainable energy”, Tesla said, by making and storing clean energy and providing transport that uses it.

Electric car maker, Tesla also wanted to address fears about SolarCity’s financial standing by revealing that the solar panel installer had elevated about $1 billion in funds in the last four months.

Moreover Chief Executive said that there had been “quite a few naysayers”, including big hedge funds, about Tesla’s expansion into the energy business.

But he questioned how good they had been at predicting the outcome for Tesla in the past.

“If they have a batting average of zero, you should really question whether their future predictions are going to be better,” he said.

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