Electric car maker Tesla Motors has announced that it’s agreed to merge with solar technology firm SolarCity for $2.6 billion in an all-stock transaction. The deal builds on Tesla CEO Elon Musk’s recent revelation of the second phase of the company’s master plan, a major part of which involves developing solutions to generate, store and enable mass consumption of solar energy. Musk happens to be the chairman of SolarCity; as per the master plan, the combined company plans to scale Tesla’s Powerwall energy storage device and develop more solar products. In addition, the firm will leverage Tesla’s wide network of…
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