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Musk defends timing of Tesla s $2.6 billion deal for SolarCity By Tom Hals and Sierra Jackson Reuters WILMINGTON, Del. (Reuters) -Elon Musk told a judge on Tuesday Tesla Inc had to buy SolarCity in 2016 because the failing solar panel company was essential to the electric vehicle maker s long-term goal of accelerating the transition to sustainable energy. The celebrity chief executive completed about eight hours of testimony over two days to defend himself against a lawsuit brought by union pension funds and asset managers who allege he strong-armed Tesla directors into buying the cash-strapped SolarCity for $2.6 billion. Musk at the time owned a 22% stake in both Tesla and SolarCity, which was founded by his cousins. The Tesla shareholders want Musk to be ordered to return the value of the deal to Tesla. ....
Wednesday, 14 Jul 2021 07:58 AM MYT Tesla CEO Elon Musk departs after taking the stand to defend Tesla Inc s 2016 deal for SolarCity in a case before the Delaware Court of Chancery in Wilmington, Delaware July 12, 2021. ― Reuters pic Follow us on Instagram and subscribe to our Telegram channel for the latest updates. WILMINGTON, July 14 ― Elon Musk told a judge yesterday Tesla Inc had to buy SolarCity in 2016 because the failing solar panel company was essential to the electric vehicle maker s long-term goal of accelerating the transition to sustainable energy. The celebrity chief executive completed about eight hours of testimony over two days to defend himself against a lawsuit brought by union pension funds and asset managers who allege he strong-armed Tesla directors into buying the cash-strapped SolarCity for US$2.6 billion (RM10.9 billion). ....
Musk defends timing of Tesla's $2.6 billion deal for SolarCity oann.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from oann.com Daily Mail and Mail on Sunday newspapers.
Musk tells SolarCity trial that Tesla would die if he wasn t CEO 12 Jul 2021 - 23:46 FILE PHOTO: Tesla Inc CEO Elon Musk walks next to a screen showing an image of Tesla Model 3 car during an opening ceremony for Tesla China-made Model Y program in Shanghai, China January 7, 2020. REUTERS/Aly Song/File Photo Reuters WILMINGTON, Del - Elon Musk insisted in court on Monday that Tesla Inc s board controls the company but said the electric vehicle maker would die if he wasn t the chief executive, as he testified in defense of Tesla s 2016 acquisition of SolarCity. The lawsuit by union pension funds and asset managers alleges the celebrity CEO strong-armed Tesla s board of directors into depleting the company’s assets with the $2.6 billion all-stock deal for SolarCity, which was running out of cash. ....
Musk tells court he dislikes being Tesla CEO as SolarCity trial opens Reuters | Jul 12, 2021 03:52 PM EDT SpaceX founder and Tesla CEO Elon Musk looks on as he visits the construction site of Tesla s gigafactory in Gruenheide, near Berlin, Germany, (Photo : REUTERS/Michele Tantussi/File Photo) Elon Musk insisted in court on Monday he does not control Tesla Inc and said he did not enjoy being the electric vehicle company s chief executive as he took the stand to defend the company s 2016 acquisition of SolarCity. The lawsuit by union pension funds and asset managers alleges the celebrity CEO strong-armed Tesla s board into wasting the company s assets to buy SolarCity, which was running out of cash. Musk at the time owned a 22% stake in both Tesla and SolarCity, which was founded by his cousins. ....