SolarCity Continues to Grow after IPO: Acquires Silevo & Begins Construction of GW Panel Factory in NY

Company news release
June 17, 2014

By Elon Musk, Peter Rive and Lyn­don Rive

SolarCity has signed an agree­ment to acquire Silevo, a solar panel tech­nol­ogy and man­u­fac­tur­ing com­pany whose mod­ules have demon­strated a unique com­bi­na­tion of high energy out­put and low cost. Our intent is to com­bine what we believe is fun­da­men­tally the best pho­to­voltaic tech­nol­ogy with mas­sive economies of scale to achieve a break­through in the cost of solar power. Although no other acqui­si­tions are cur­rently being con­tem­plated, SolarCity may acquire addi­tional pho­to­voltaics com­pa­nies as needed to ensure clear tech­nol­ogy lead­er­ship and we plan to grow inter­nal engi­neer­ing significantly.

To read the full news release, please visit the com­pany blog.