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Everything you need to know about Tesla's new solar business
Everything you need to know about Tesla's new solar business
Nov 23, 2016, 00:03 IST
Tesla first announced its intention to acquire SolarCity at the end of June to become the "world’s only vertically integrated energy company."
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The acquisition proposal was immediately met with criticism as SolarCity has struggled as a company, leading many to refer to the deal as a bailout.
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Regardless, Tesla said it expects SolarCity to contribute over $1 billion in revenue in 2017 and to contribute over 500 million in cash to Tesla's balance sheet over the next three years.
But layoffs are probably on the way now that the companies have combined.
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Tesla's flagship product as a solar company will be its solar roof.
Tesla is using a process known as hydrographic coloring, a process that uses water to apply printed designs, to some tiles. That hydrographic coloring process is being overseen by Tesla's new glass division.
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As for price: Musk said just last week that the solar roof could cost less than a normal roof, even before taking into account the amount it saves on electricity.
Tesla and Panasonic will manufacture the solar cells for the roof at a manufacturing facility in Buffalo, New York.
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Tesla will also sell its newly improved battery, the Powerwall 2, as part of its solar offerings.
Tesla will actually sell Powerwall 2 in its retail locations, showing a renewed focus on showing Tesla as both an energy and car business.
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Lastly for energy products, Tesla will continue to offer its massive commercial battery pack, Powerpack 2.
Tesla's battery ambitions will be supported by its massive battery plant, the Gigafactory.
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Meanwhile, Tesla plans to continue to grow its auto business by ramping up Model 3 production in 2017.
Musk is also advancing Tesla's position in self-driving car tech going into 2017.
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Musk also plans to include a Tesla SUV, semi-truck, and mini bus in its future line-up.
There's also plans for Tesla to take on Uber with a ride-hailing service.
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Meanwhile, Tesla will scale up its production in order to aid his grand vision.