Is SolarCity still in business? SolarCity, as an entity, is no longer in business. Tesla acquired SolarCity in 2016 for $2.6 billion and reorganized its business as Tesla Solar.
What is SolarCity called now?
|Founded||July 4, 2006|
|Defunct||November 21, 2016|
|Fate||Acquired by Tesla, Inc.|
Is SolarCity owned by Tesla? It’s been five years since Tesla acquired SolarCity for around $2.6 billion. To convince shareholders to approve the deal, Elon Musk hosted a splashy event in Hollywood, where he held up a shiny roof shingle, which he said was a miniaturized solar panel.
Did Elon Musk sell SolarCity? Musk won that lawsuit on Wednesday, with the final judgment ruling that although the acquisition process was “far from perfect” Tesla paid a fair price for SolarCity. The victory meant Musk was no longer on the hook for $2 billion.