Tesla Motors Inc to Unveil Solar Sunroof on Oct. 28

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Tesla Motors Inc (NASDAQ:TSLA) will be introducing its solar sunroof on Oct. 28, 2016.

Tesla, TSLA, SolarCity, SCTY, Solar Sunroof

Elon Musk, the CEO of Tesla, announced the intention to launch the solar sunroof on Oct. 28 via a post on Twitter Inc (NYSE:TWTR). He said that the sunroof will be a combined effort between TSLA and SolarCity Corp (NASDAQ:SCTY).

According to Musk, the solar sunroofs will first appear in the San Francisco Bay Area. The sunroof will come equipped with the company’s new Powerwall 2.0 battery. It will also include one of the motor company’s chargers.

SolarCity customers will also be able to use the Powerwall 2.0 battery on their older setups. The solar energy company confirmed that it will release a retrofit option for the battery to these customers. However, it didn’t say when this option would be available to customers.

Tesla working with SolarCity on its new sunroof shouldn’t come as a surprise. The electric car manufacturer is currently in the process of acquiring the solar power company. The deal is currently valued at $2.8 billion.

“It’s not a thing on the roof, Musk said during SolarCity’s earnings call for the second quarter of the year. “It is the roof, which is a quite difficult engineering challenge and not something that is available anywhere else.”

Musk has been dropping hints about a solar sunroof since July. It was at this time that he released his second “Master Plan.” The project was mentioned as one of his reasons for wanting to combine Tesla and SolarCity.

TSLA and SCTY stocks were both up 1% as of Friday morning.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/09/tesla-solarcity-solar-sunroof-tsla-scty/.

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