Founded with the intent of finding energy solutions (and profit) in the power of the sun, SolarCity’s photovoltaic energy business has grown in leaps and bounds since 2006. Now, as the company poises itself for bigger profits, a very familiar man wants to acquire the operation.
Tesla Motors published a note on its website yesterday stating its intention to acquire SolarCity. The offer, made by Tesla, would see the electric automaker trade shares with the San Mateo, California-based company, bringing the business into its fold.
Tesla founder and CEO Elon Musk is no stranger to SolarCity’s operation — he co-founded it with cousins Lyndon and Peter Rive (CEO and CTO of Solar City), and serves as the company’s chairman. (Read More…)
The fraternity of automotive journalism was atwitter when blue Polestar Volvos arrived at the Chicago auto show last year. While the cars delivered increased performance and looks to match, Polestar also gave the high-performance Swedish offerings credibility with racing programs in Scandinavia (STCC) and Australia (V8 Supercars).
It’s no secret, though, that Volvo’s marketing head, Alain Visser, sees no future for the brand in motorsport. Purchasing Polestar might be the Swedish manufacturer’s way of ending at least one of its racing contracts while still holding on to the blue-hot Polestar brand.
Speaking with Swedish media late last year, Visser plainly stated, “Motorsport does not conform with our brand, where we stand for smaller engines and safety. We are therefore pulling out of STCC, for example, as soon as the contracts permits.”
Digging further into the auto-parts game, Samsung SDI announced it would buy Magna International’s battery-pack business.
It seems as of late that Tesla is becoming to cars what Apple already is to computing, smartphones, digital music players and tablets. Thus, it should be as no surprise that the automaker has brought aboard former Apple vice president of Mac hardware engineering Doug Field to help them develop “insanely great” new vehicles.
Volkswagen will almost certainly finish the year as the second-largest automaker by volume… and if it wants to take the top spot, it will do so on sales, not acquisitions. Having gobbled an extraordinary number of acquisitions over the past several decades, including Bentley, Lamborghini, Bugatti, Italdesign and Karmann, VW’s monstrous appetite appears to be waning. And no wonder: the latest mouthful, a partnership with Suzuki, has gone sour and recent lustful glances at Alfa have drawn sassy rebukes from Fiat’s Sergio Marchionne. Accordingly, VW’s Chairman Ferdinand Piech tells Bloomberg [via AN [sub]] that no more acquisitions are planned and that
We’re big enough
Of course, this is also coming from the company that’s been struggling to swallow Porsche for the last several years. Once that deal is complete, we’ll check back on Herr Piech’s appetite. Because in an industry built on scale, you never know when hunger will strike…