Tesla expects SolarCity to bring $1 billion in 2017 Bashny.Net

In his blog, the company shared details of the forthcoming transaction with SolarCity and its consequences. Tesla believes that the startup will bring more than a billion dollars in revenue next year, and in the worst case will not affect the financial Affairs of the automaker.


In the publication it is reported that in the next three years, SolarCity will bring Tesla more than half a billion in profit, and total revenues in 2017 will exceed $1 billion. Thus, joined a startup company almost immediately bring 40% of their actual cost. Recall that Tesla SolarCity plans to acquire for $2.6 billion Final decision of the shareholders of the companies will take on November 17.

Earlier, the head of Tesla Elon Musk during the presentation of third quarter earnings reported that SolarCity will have a neutral impact on the financial results of the fourth quarter, but may serve as a source of profit. For the Mask of joining a startup is an important step in creating a full-fledged energy ecosystems, as stated in the second master plan of the company.

Tesla expects to achieve cost synergies. in the amount of $150 million in the first year after the merger. As noted by Business Insider, the term synergy indicates the probable reductions that expect 1000 employees.





Shares of SolarCity with the beginning of the year fell by 45% in the summer, the company cut marketing costs and reduced staff of marketers. The startup even had to change strategy, before the company donated solar panels to rent and now focused on sales.

Recall that Elon musk owns the majority of shares in SolarCity and Tesla, and the head of a startup Rayv Lyndon have the owner's cousin. The merger of the two companies has drawn sharp criticism from shareholders and the media. In 2017 Tesla will need to deal with the supply of electric cars, Model 3, and $3 billion of debt SolarCity will benefit financial companies.

 

Despite this, the company's business is yet to improve. In October Tesla for the first time in three years, received a quarterly profit. It amounted to $21.9 million last week, Musk presented a solar roof, designed in collaboration with SolarCity, and also the form of energy storage Powerwall 2. published

P. S. And remember, only by changing their consumption — together we change the world! ©

Source: hightech.fm/2016/11/03/solarcity_profit