Tesla Motors Inc Chief Executive Elon Musk on Friday unveiled new energy products aimed at illustrating the benefits of combining his electric car and battery maker with solar installer SolarCity Corp. The products include solar-powered roof tiles that eliminate the need for traditional panels and longer-lasting batteries aimed at helping to realize Musk's vision of selling a fossil fuel free lifestyle to consumers.
"This is sort of the integrated future. An electric car, a Powerwall and a solar roof. The key is it needs to be beautiful, affordable and seamlessly integrated," Musk said during an event to showcase the products at the Universal Studios theme park near Los Angeles. "If all those things are true why would you go any other direction?"
Musk is the biggest shareholder in both Tesla and SolarCity, which is run by two of his first cousins. Analysts have been dubious of the deal's proposed synergies, with some suggesting the merger is a way for Tesla to rescue money-losing SolarCity.