Thursday, April 25

Tag: SolarCity

Elon Musk’s SolarCity Sued By Khosla Ventures & Cogenra Solar
News

Elon Musk’s SolarCity Sued By Khosla Ventures & Cogenra Solar

Elon Musk's SolarCity has been accused of intellectual property theft by Cogenra Solar, a wholly owned subsidiary of SunPower Corporation, and Khosla Ventures. In a lawsuit filed in San Francisco on Monday, the parties accused SolarCity of gaining undue advantage of Cogenra's Shingling technology that helps in manufacturing high-efficiency commercially viable solar panels. SolarCity and its subsidiary Silevo misappropriated Cogenra's trade secrets, manufacturing processes, and other intellectual property to give themselves a competitive advantage and head start in developing shingled-cell solar modules, Cogenra said in the lawsuit. SolarCity said that last week it discovered that a former SolarCity employee had unlawfully downloaded confidential information, copied that informatio...
Exclusive: Tesla, SolarCity Close to Merger Agreement
ACQUISITION

Exclusive: Tesla, SolarCity Close to Merger Agreement

Tesla Motors Inc and SolarCity Corp have made progress in putting together a deal that will merge the electric car maker and the solar panel installer, people familiar with the matter said. The two companies, which count billionaire Elon Musk as a major shareholder, are in the final stages of carrying out due diligence on each other, and could agree on the terms of a deal in the coming days, though it is still possible that their negotiations end unsuccessfully, the people said on Saturday. It could not be learned whether SolarCity would be successful in including a go-shop provision in a merger agreement with Tesla that would allow it to continue to solicit bids from other potential buyers for a short period of time. The sources asked not to be identified because the negotiations...