Tesla makes offer to buy SolarCity
US electric carmaker Tesla has offered to buy solar panel company SolarCity in a bid to expand its clean energy business.
The company has made an all-stock deal worth as much as $2.8bn (£1.9bn).
Tesla shares fell 10% in extended trading after the announcement while SolarCity jumped 23%.
Tesla chief executive Elon Musk described the deal as a "no brainer".
He said it would transform Tesla into the "world's only vertically integrated energy company offering end-to-end clean energy products", from solar panels and home storage batteries to electric vehicles.