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Elon Musk, who leads Tesla Motors Inc. (TSLA), said an initial public offering of SolarCity Corp. may occur this year after a review of accounting, with an IPO of Space Exploration Technologies Corp. probable in 2013.
I am just putting in my 2 cents here, and stating this is %100 pure speculation, and I have no links or actual data to backup any of this, so please no flaming about this.
It's entirely possible that the need for this IPO is closely related to the Tesla SuperCharger announcement/deployment.
Tesla is procuring sites for the 100 initial SC sites, Elon has stated many of them will be equipped with Solar canopies, that will be provided by SolarCity. There is also construction work involved with each site, much of it is electrical such as dealing with the myriad of electric utilities across the county, placing large 300-500KVA pad mount transformers, etc. SolarCity is really a photovoltaic contractor/installer. Perfect to deploy this infrastructure, but they currently don't have a nationwide footprint. Elon needs them to expand... Tesla also feeds business to SolarCity to install 14-50s and WHPC2s in their Model S customers homes. Another reason for the SolarCity expansion.
Capital will be needed to pay for the initial hardware for all of those solar canopies and electrical work/construction of the SuperCharger sites, hire new electricians and new offices for the entire U.S., they need to go nationwide.
The sites will generate positive cash flow by generating power, more than the site uses for quite a while, until many more Model S's are mfrd/delivered, so SolarCity could see an early return on the capital they use to build out the sites.
Also, not sure anyone has picked up on this, but the gentlemen running SolarCity are Elon's cousins, so it's a very close relationship between the two companies.
It all makes sense, when you put all of the facts/data together that we know about.
Nah, the timing is pure coincidence. They've been trying to get this IPO out since the spring but got held up by some accounting issues that the government wanted to spend more time on.
Nah, the timing is pure coincidence. They've been trying to get this IPO out since the spring but got held up by some accounting issues that the government wanted to spend more time on.
And Tesla was going to make the Supercharger announcement in July.
There's no way that Solar City, a completely separate company, moved its IPO based on Tesla's schedule slip. I think you guys are imagining a much stronger connection between SC and Tesla than actually exists. Even with this supercharger install Tesla is a small customer, it just doesn't make any sense for them to change their plans based on what Tesla does.
Besides, even if this gig was so huge it warranted an IPO, there's no reason that they needed to wait until now to do it. They could have done it a few months ago and held onto the cash. Or hey, they could just charge Tesla enough to cover the cost of building these things (which is what I'm sure is happening) and not need an IPO at all.
No, I don't buy it. No connection here. When you are on the board of three companies sometimes you have months where stuff happens at more than one. I mean, the Model S launch was in the same week as the space station docking. Nobody thought it odd that that got delayed onto the same week as the car launch.
I mean show me some facts and I'm willing to change my mind, but all I see is the makings of a mediocre conspiracy theory here.