News
Musk defends SolarCity merger: $500M cash to Tesla, strength of $1B raised

Tesla presented more financial information related to its pending acquisition of SolarCity to investors late Tuesday after the closing bell. Details were revealed through a comprehensive blog post published on the company’s site. Here are some of the the important points covered.
- SolarCity is expected to add more than a $500 million in cash to Tesla’s balance sheet over the next 3 years.
- SolarCity has transitioned to a cash or purchase finance model instead of a leasing model. This allows the company to bring more money in the door upfront rather than waiting for lease payments to come in over 20 years.
- SolarCity has arranged for nearly $1 billion in financing for its business in 2016 alone.
- Solar City currently does business in less than half of all states. Tesla is a global company with a much greater marketing territory.
- Combining the companies will create efficiencies that create cost savings of nearly $150 million a year.
During the question and answer session with analysts Tuesday afternoon, Elon has several interesting things to say. He prodded the doubters by saying that those who have been predicting a bad outcome for Tesla Motors have been wrong 100% of the time so far. He said their “batting average is zero” and asked why anyone would pay attention to people with such a dismal track record.
Referring to the fact that SolarCity already has a customer base of 300,000 installed solar systems, Musk asked people to consider the significant upsell opportunities that base represents. He joked that what people often see as counterintuitive turns out to be perfectly logical once they fully understand the concept. How is it possible that the same people can be against something one moment and then claim it to be the obvious solution the next, he mused?
For instance, he pointed out that there are more than 150 million roofs in the North American market alone. That means there is an enormous business opportunity for the solar roof products unveiled last week. Musk seemed baffled that more people don’t grasp the size of the market and the profit potential it offers.
Talking further about the solar roof, Elon downplayed its cost, saying the glass for the solar tiles cost next to nothing to manufacture. “Glass is basically sand,” he said. Even the micro-louvers that give the tiles their distinctive appearance when viewed from below are made of plastic. Very tough plastic, to be sure, but only slightly more expensive than glass.
To him, it seems obvious that people will clamor for the solar roof product. Others have tried to make a solar roof before, but Elon asked coyly if anyone had ever seen one that was attractive. He said none of them were appealing enough to go on his own house and wondered aloud why no one had come with a solar roof product before that is as attractive as the Tesla offering.
Finally, Musk was asked, if the SolarCity merger was not approved, would Tesla offer solar products from other companies in its stores? He scoffed at the idea. Would Apple offer cell phones from Samsung and other manufacturers in its stores? He seemed to think the idea was preposterous.
Elon is clearly committed to the merger with SolarCity. He even considers it pretty much a no brainer. Despite that, Tesla stock has dropped considerably this week after a temporary pop in the stock following the solar roof reveal. The company stock is trading -1.31% after hours following today’s announcement.
If you’re considering solar for your home or business, we encourage you to get a solar cost estimate first, based on your monthly utility bill and location. The service is being provided by an affiliate partner and fan to Teslarati.
News
Tesla rival brings back trade-in promo to poach customers
Companies are doing anything to convince them to switch from Tesla.

Tesla rival Polestar has brought back its promotion that will offer up to $20,000 in discounts for those looking to trade in their Teslas for another EV.
In late February, Polestar launched a similar campaign, and based on the success it said it had with it, the company has decided to bring it back for April in an attempt to woo more customers away from the Elon Musk-headed car company.
A spokesperson for Polestar told Reuters in a statement that:
“We piloted a conquest campaign in late February. Based on the positive response we ran a new campaign for the month of March. We are currently running a similar campaign for April.”
The campaign is very obviously an attempt to poach Tesla owners who might be willing to switch cars as some have expressed distaste with CEO Elon Musk’s involvement in politics, or they are just hoping to try something different.
Anti Elon Musk protester attacks Polestar after mistaking it for a Tesla
The offer is only valid on the Polestar 3, a vehicle that is built in South Carolina at Volvo’s factory just outside of Charleston. Volvo is Polestar’s parent company, which is why it is handling the production of the vehicle.
Evidently, the promotion was something that had Polestar encouraged, especially as some Tesla owners are looking to switch.
Polestar’s head of sales for the United States, Jordan Hofmann, even said in a post on LinkedIn that the company saw success after offering the Tesla trade-in promotion:
“The numbers speak for themselves. This week saw some of the highest order days for Polestar 3, and the response to our Tesla Conquest Offer has been incredible.”
Lucid currently also has a similar promotion going on with an up to $4,000 discount on the Air sedan for Tesla owners who choose to trade in.
Cybertruck
Tesla unveils new Cybertruck configuration, but not in the U.S. (yet)
Tesla’s Rear-Wheel-Drive trim of the Cybertruck has arrived, but not in the U.S. quite yet.

Tesla has officially unveiled a new configuration of the Cybertruck with a new Long Range Rear-Wheel-Drive trim, but it is not yet available in the United States.
Instead, Tesla is advertising the vehicle on its website in Saudi Arabia, a market where it launched deliveries for the first time today, April 10.
🚨 Tesla unveils Long Range Rear-Wheel-Drive Cybertruck. It is currently being offered in the Saudi Arabian market.
There is no listed price as of yet. pic.twitter.com/aDDgDEIEQt
— TESLARATI (@Teslarati) April 10, 2025
Tesla has always planned to launch this configuration of the Cybertruck, as in November 2019, at the vehicle’s unveiling event, it was the most affordable and most accessible trim, priced at just $39,990.
However, Tesla did not launch it right away, instead focusing on the All-Wheel-Drive trim levels that appeared to be in higher demand. Now, it is gearing up for its launch as planned for late 2025, but it is limiting orders to the Middle East, at least for now.
Specs
The specs of the new Tesla Cybertruck trim are as follows:
- Range – 350 miles/563 kilometers
- Acceleration – 6.6 seconds 0-100 km/h
- Top Speed – 180 kmh/111 MPH
- No adjustable air suspension
- No rear touchscreen
- Price not listed
U.S. Launch
While Tesla has not listed this specific trim of the Cybertruck in North America yet, it is likely that the company will launch it in the United States later this year.
Tesla has said that this trim level would be available in the U.S. in late 2025, and we would imagine that is still the plan. The reasoning for launching it in the Middle East before it heads to the U.S. is unknown, but it could have something to do with regulatory processes, specifically the EPA and its approval processes.
In the broader scope of things, launching this Cybertruck version in the U.S. could help to improve Tesla’s delivery figures for years to come after its launch.
Many people have been hoping for Tesla to launch a Cybertruck that is more affordable, and it could be a big reason the pickup has not been a bigger seller (despite being the best-selling EV pickup on the market).
This could be the key to unlocking more demand for the Cybertruck, especially in the U.S.
Cybertruck
Tesla confirms Cybertruck will make its way out of North America this year
The Tesla Cybertruck is headed to a new market outside of North America.

Tesla has confirmed that it will officially launch Cybertruck deliveries outside of the United States, Canada, and Mexico for the first time later this year.
It will be the first time the Cybertruck officially launches outside of North America, and will land in Saudi Arabia, the United Arab Emirates, and Qatar in late 2025.
🚨 Tesla has confirmed that the Cybertruck will OFFICIALLY make its way out of North America in late 2025 as it is launching deliveries in Saudi Arabia, the United Arab Emirates, and Qatar! pic.twitter.com/ghOhOowF3I
— TESLARATI (@Teslarati) April 10, 2025
Tesla launched deliveries in Saudi Arabia for the first time today, bringing its cars to the Middle East and launching a new market of availability.
With the big money available in the region, Tesla is surely positioned well, especially as the Cybertruck continues to be a vehicle that celebrities have flocked toward since deliveries began in late 2023.
Tesla will likely be shipping these vehicles from Gigafactory Texas to the Middle East, as both Giga Berlin and Gigafactory Shanghai have not established Cybertruck production lines. It will be interesting to see how soon Tesla can iron out this logistics process and whether it can stick to this timeline.
After the launch of the Cybertruck, many wondered when Tesla would launch it in a market outside of North America. Many speculated whether the company would follow through on the smaller version of the all-electric pickup that CEO Elon Musk hinted toward a few years ago.
Elon Musk hints at smaller Tesla Cybertruck version down the road
However, that smaller design is likely not needed for the roads of Saudi Arabia and other neighboring countries. Tesla truly considered that abbreviated version for Europe and Asia, where streets and homes are more compact.
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