Skip to main content

Tesla and SolarCity Shareholders approved merger by ‘more than 85%’

tesla solarcity header

Tesla is currently holding its special shareholders meeting to vote on the merger and General Counsel Todd Maron announced within minutes of the meeting starting that shareholders have approved the merger by more than 85%.

The company officially acquired SolarCity for roughly $2 billion. Tesla will integrate SolarCity’s team and operations, and it will phase out its brand in favor of ‘Tesla Energy’ over the next few months.

They will release the final results in a SEC filing once it will be available.

After the formal part of the meeting, the CEO of the newly combined company, Elon Musk, took a few questions and made some interesting remarks:

The company sent out the following press release:

Tesla’s shareholders have overwhelmingly approved our acquisition of SolarCity. Excluding the votes of Elon and other affiliated shareholders, more than 85% of shares voted were cast in favor of the acquisition. With SolarCity’s shareholders also having approved the acquisition, the transaction will be completed in the coming days.
We would like to thank our shareholders for continuing to support our vision for the future. We look forward to showing the world what Tesla and SolarCity can achieve together.
I suggest taking a look at Tesla’s investor presentation about the merger in order to get a better idea of what is going to happen in the next few months now that the two companies have merged.

FTC: We use income earning auto affiliate links. More.

You’re reading Electrek— experts who break news about Tesla, electric vehicles, and green energy, day after day. Be sure to check out our homepage for all the latest news, and follow Electrek on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our YouTube channel for the latest reviews.



Avatar for Fred Lambert Fred Lambert

Fred is the Editor in Chief and Main Writer at Electrek.

You can send tips on Twitter (DMs open) or via email:

Through, you can check out Fred’s portfolio and get monthly green stock investment ideas.