Tesla sets date for SolarCity vote, promises new joint product on October 28
Don't expect a car on that date, though.
Want to get away from the grid? Tesla and SolarCity are ready to help. Well, they will be soon.
Before Tesla and SolarCity can combine into an energy-solution Megazord, it must first bring the acquisition to a shareholder vote. The date for that vote is now set, but before that happens, Tesla will roll out a new product with SolarCity's help.
Both Tesla and SolarCity set a date of November 17, 2016, for its pair of meetings, wherein shareholders will vote on Tesla's acquisition of the solar-energy firm. The shareholders could very well vote against it, but it's likely that the yes votes will take it.
Before that, on October 28, Tesla will make a new product announcement. Tesla and SolarCity will unveil a "solar roof product," which is likely a series of roof-mounted solar panels (for the home, not the car) that connects to Tesla's next-generation Powerwall 2.0 home battery, providing a house with a one-stop solution to moving off the grid, or perhaps even contributing to it.
Tesla stands firm that its combination of SolarCity's installation network and Tesla's retail presence will provide ample benefits in terms of energy generation and storage solutions. With a product set to combine the strengths of both companies, we'll find out soon enough whether the acquisition is worth it.
If you are a Tesla shareholder as of September 23, 2016, you're eligible to cast your vote on the acquisition. You can do so by phone, mail or online, any time up to and including November 16, 2016. The company will mail out instructions on how to vote in the near future, as well.
