Tesla to buy SolarCity for $2.6 billion in plan to create clean-energy powerhouse

August 1, 2016 10:56 AM

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Tesla Motors Inc. said it would buy solar panel installer SolarCity Corp. for $2.6 billion in shares to form a one-stop clean-energy shop.

The combined entity will offer consumers solar panels, home battery storage systems and electric cars under a single brand. "Solar and storage are at their best when they're combined," the companies said in a blog post on Tesla's website.

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