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Business

Tesla’s Musk gets the sun under his roof

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Business

Tesla’s Musk gets the sun under his roof

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COMING UP:Tesla’s Musk gets the sun under his roof

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00:00:00
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00:00:02
After a tumultuous year for Elon Musk, Tesla shareholders on Thursday giving the CEO the go ahead to bring in his other company SolarCity under one roof and push ahead with his green energy strategy. Reuters reporter, Nichola Groom attended a recent event where Musk laid out his plan.>> He showed off a solar roof.
00:00:23
So not just putting solar panels on top of a traditional roof, but actually integrating the solar technology into roof tiles. And also unveiled a new home battery which is designed to store the excess energy. And then, obviously, they had some Tesla electric vehicles on display there as well.
00:00:45
His Tesla, SolarCity clean energy one stop shop will be the place where people can buy those products and live a low fossil fueled life.>> But the merger comes at a time when Tesla is struggling to expand its production and rooftop solar panel installation slow. Not to mention, an incoming president who is called man made global warming a hoax and is likely to do away with federal tax subsidies for electric cars.
00:01:15
>> So apparently, there's a new political landscape.
LAUGH]>>
Some have questioned whether the solar industry and electric car companies could suffer if a Trump administration rolled back incentives for green living. Musk said Tesla's production volumes were getting big enough that the subsidies wouldn't matter.>> Let's say the new President did erase all incentives, Tesla's competitive position would just be better.
00:01:39
We don't think that that's a good thing for the world, but it would be a good thing for Tesla.>> So now it's full speed ahead for Musk to take his strategy out for a spin.