(MENAFN) Tesla has offered to buy SolarCity, the stressed solar-power company cofounded by Elon Musk, in a bid to bring together two planks of his plan to transform the way humans consume energy.
Musk, CEO of Tesla and chairman of SolarCity, has said that he wants to remake transportation using the electric car while freeing Earth from a dependence of fossil fuels using solar power.
The offer comes as Tesla struggles to keep pace with its own ambitious growth targets and faces challenges from automakers that are catching up to its electric-vehicle and self-driving technology.
In accordance, the California-based automaker stated earlier this year that it intends to produce 500,000 vehicles by 2018, which it's about as much as 10 times the number produced last year.
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