SolarCity founder Lyndon Rive is leaving Tesla in June

Lyndon Rive, the former chief executive officer of SolarCity and first cousin of Tesla Inc. "My skill set and what I love doing is starting and running companies", Rive said in an interview. CEO Elon Musk, the largest individual shareholder of Tesla, proposing that it buys SolarCity, where he served as chairman and also the largest shareholder.

Apparently, Rive is leaving Tesla to start another company next year and spend more time with his family.

"I can hand off the baton to somebody else and give myself the opportunity to do something else that could also have another impact", he said.

The founder of solar panel provider SolarCity is stepping down from his role with electric automaker Tesla later this year.

Over the next decade, SolarCity expanded rapidly with innovative no-money-down financing schemes and a vast sales and installation operation.

Under Tesla, SolarCity has slowed installations and focused on the most profitable projects that generate cash upfront.


Analysts have argued for several months that last year's Tesla-SolarCity merger is hurting the Silicon Valley auto maker's valuation on the market.

Under the direction of Tesla CEO Elon Musk, the Silicon Valley-based electric carmaker and energy company has capitalized on SolarCity's supply chain and sales force to create a vertically integrated sustainable energy company, from energy generation to storage to transportation.

This is where Tesla's acquisition of SolarCity can make a huge difference.

Tesla told reporters that Cal Lankton, the company's vice president of global infrastructure operations, will take over for Rive.

Like his cousin, Rive grew up in South Africa with an ambitious, entrepreneurial mother and an early desire to start companies.

The announcement of Rive's departure comes just days after Tesla began taking orders for its new solar product - solar shingles that will replace the boxy panels that attach to roofs. We'll just repeat our question from almost a year ago when we discussed the Tesla-Solarcity merger, and concluded that "we wonder if 22nd Century investors will be warned of "Musk Schemes"?"

Related News:

  • Manchester City Zabaleta announcement opens door for Bilic — Transfer Focus

    Manchester City Zabaleta announcement opens door for Bilic — Transfer Focus

    And he was always one of them. "We played well but we couldn't score enough goals and we had to fight until the very last minute". Zabaleta, 32, one of seven players out of contract this summer, asked to leave and has received an offer from West Ham United.
    Trump invites new South Korean leader to US

    Trump invites new South Korean leader to US

    Moon, by contrast, favors outreach right away, so long as North Korea doesn't carry out major acts of aggression. The Chinese Foreign Ministry also expressed a desire to deepen cooperation between the two nations.
    Syrian Kurdish forces to push on IS capital this summer

    Syrian Kurdish forces to push on IS capital this summer

    Weapons supplied to the YPG have in the past fallen into PKK hands, said Turkish Foreign Minister Mevlut Cavusoglu . Washington sees the YPG as distinct from the PKK and as a valuable partner in the fight against in Islamic State.
  • Trump moves to settle Israeli-Palestinian conflict

    WASHINGTON (AP) - President Donald Trump is expressing optimism for resumed peace talks between the Palestinians and Israel. VP Mike Pence, said, "I will just like to welcome the president and his entire delegation here to the White House".

    1st large Chinese-made passenger jet takes its maiden flight

    The single-aisle, 168-seat aircraft is being cast as China's answer to the Boeing 737 and the Airbus 320. The flight lasted one hour and 19 minutes, with the aircraft touching down at 15.19 local time.

    Energy Chief Says Hole Filled at Nuclear Waste Site in Washington State

    Worker safety has always been a concern at Hanford, which is located about 200 miles (322 kilometers) southeast of Seattle. Energy Secretary Rick Perry has been briefed on the situation was told the agency will continue to monitor the situation.
  • Facebook adds Snapchat-like camera filters to Instagram

    Facebook adds Snapchat-like camera filters to Instagram

    After taking a selfie, users can share it to their friends via Instagram Direct or share it more widely on Instagram Stories . Instagram's fight to stay ahead of Snapchat involves stealing its best features so that users have no reason to switch.

    Manchester City edge Leicester in Controversial Encounter to boost Top 4 Aspirations

    We have to look after our boots. " What we've got to do now is try to get something from these two away games . I never saw one player in my life go to the pitch and not try to win the game.
    UK working to restore hospital systems after cyberattack

    UK working to restore hospital systems after cyberattack

    The spokesman, Jan Op Gen Oorth, declined to give further details Friday so as not to jeopardize the ongoing investigations. By Friday evening, the ministry said it had "contained" the attack and denied that any of its information had been stolen.
  • Russia: Syrian Safe Zones Plan to Take Effect at Midnight

    Russia: Syrian Safe Zones Plan to Take Effect at Midnight

    They discussed developments in Syria, including a Russian-proposed plan for "safe zones" that went into effect on Saturday. Asked whether Lavrov's visit boded well for improving ties, Tillerson said Monday: "We shall see".
    Manhunt for hackers behind global cyberattack

    Manhunt for hackers behind global cyberattack

    Microsoft said the situation was "painful" and that it was taking "all possible actions to protect our customers". "Ransonware that has been dubbed 'WannaCry" security is one of the worst and wide spread malware they ever even.
    New Miss USA to be crowned in Las Vegas

    New Miss USA to be crowned in Las Vegas

    There are many different people who are Americans, and I feel like Asian-Americans often times are left out of the conversation". Kara McCullough from the USA capital will go on to represent the United States at the Miss Universe contest.


Most liked

Jimmy Kimmel will return to host 2018 Oscars
The Oscars, organized by the Academy of Motion Picture Arts and Sciences, is Hollywood's most prestigious film awards ceremony. Talk show host Jimmy Kimmel will be returning to host the Academy Awards next year .

Latest Netflix app doesn't want to play with rooted devices
Devices with unlocked bootloaders, therefore, may be cut off from downloading Netflix even if their firmware is still secure. Netflix now relies on Widevine DRM technology by Google so the app must be compatible with a trusted Android device.

Trump hosting Turkey's Erdogan as tensions simmer
US military officials view the Kurds there as key in the fight against ISIS, but the Turkish government argues they're terrorists. Erdogan is also likely to pressure the U.S.to extradite cleric Fethullah Gulen, who he blames for an attempted coup last July.

Olympic Star McKayla Maroney Addresses Racy Instagram Video
On Mother's day, she made a decision to treat her male followers to a sexy video of her curvy backside and she did not disappoint. If you got it, flaunt it. "I didn't get hacked . unfollow if u need to. all love". "I don't mean to freak anybody out".

Nitish wears the crown, but Lalu rules Bihar: Paswan
He had also alleged that the state's biggest shopping mall that is coming up in Patna is part of such questionable transactions.

Reynolds, Lively surprise McCarthy on TV show
So, with Melissa as this week's host, we knew Saturday Night Live would be good - and it did not disappoint. McCarthy's "Spicey" could be seen peering in from outside the White House looking confused and distraught.

Dem calls report on Trump, intel 'disturbing'
But a photographer from Russian state-media Tass attended the meeting and took photos of a laughing Trump with Lavrov and Kislyak. However, "they did not discuss source, methods, or military operations", US Secretary of State Rex Tillerson said in a statement.

Steve Kerr delivers inspiring halftime speech before Warriors' big Game 1 comeback
It was reported last week that Kerr had a spinal cord leak procedure while at Duke. Just settle in on like three stops in a row.

John Oliver Demands Congress Take Action After Trump's Firing of James Comey
Trump posted last week, after sharing his version of his conversations with Comey in an NBC interview with Lester Holt .

Top 50 NBA Draft Prospects — NBA DRAFT RANKINGS
LA holds a 22.6 percent chance of finishing with the no. 4 spot and and 26.5 percent chance of finishing with the no. 5 pick. Marc Bertrand said he would rather the Celtics win the No. 1 pick at the draft lottery than beat the Wizards in Game 7.

Acting FBI Director Tells US Senators No Effort To Impede Russia Investigations
Adam Schiff of California, said that Trump should hand over any such tapes to lawmakers - or publicly admit none actually exist. The Clinton investigation was closed in early November, and Mr Trump has been in office since 20 January.

Salvador Sobral Of Portugal Wins Eurovision Song Contest
Sobral says that "I'm exhausted". "This prize is going to trigger a certain madness about me but I know it is short-lived", he said at a brief press conference.

Kate Middleton Releases New Photo Of Princess Charlotte
A new picture of Princess Charlotte enjoying the outdoors, taken by her mother, has been released ahead of her second birthday. Charlotte is fourth in line for the throne, behind Prince Charles (her grandfather), Prince William and Prince George.

Everything you need to know about Windows 10 S
The new Surface Laptop boasts a 13.5-inch screen, weighs a mere 2.76 pounds and will come in burgundy, cobalt, platinum and gold. Windows 10 S is a streamlined version of Microsoft's operating system geared for students and educators.

All Blacks to play South Africa in RWC pool
France have reached three finals, and Argentina have made the semifinals of two of the last three World Cups. We will focus on our journey towards the RWC 2019 and make sure we are ready and well prepared.