Business news: Elon Musk is moving closer to his vision for a "one-stop solar and storage experience", with the announcement that his company Tesla is set to buy solar panel manufacturer SolarCity.
Tesla and SolarCity have reached an agreement over the $2.6 billion (£2 billion) bid, and it now only awaits approval from the companies' shareholders.
Musk has positioned the merger as an essential step in his masterplan, which involves the development of an integrated solar panel and battery product based on the Powerwall.
"Now is the right time to bring our two companies together," read a statement from Tesla on the company blog. "Tesla is getting ready to scale our Powerwall and Powerpack stationary storage products, and SolarCity is getting ready to offer next-generation differentiated solar solutions." As well as being founder and CEO of Tesla, Elon Musk is the chair and principal shareholder of SolarCity
"By joining forces, we can operate more efficiently and fully integrate our products, while providing customers with an aesthetically beautiful and simple one-stop solar and storage experience."
Automotive company Tesla specialises in electric cars and batteries. The company imagines offering "one installation, one service contract, one phone app" to its customers.
As well as being founder and CEO of Tesla, Musk is the chair and principal shareholder of SolarCity. He has been involved with the company ? run by his cous...