Last week Tesla CEO Elon Musk declared plans to acquire SolarCity and fold the solar panel installer’s operations into its own business. The offer is contingent on shareholder votes and board approval at both companies, but the EV firm is not waiting for that and has gone ahead with six trademark applications to sell solar products under its “Tesla” brand, reports Electrek.
What do the trademarks cover?
Tesla’s trademark and copyright attorney at Cooley LLP, Ariana Hiscott, filed six new trademark applications for the company June 22, according to filings obtained by Electrek. The applications range from installation and repair of solar panels to solar cells and modules.
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Tesla’s trademark applications mention solar energy equipment, namely, photo-voltaic solar modules for converting electronic radiation to electrical energy and equipment for use in collecting and converting solar energy into electricity, namely, solar cells and inverters. The applications mention installation, repair and maintenance of solar panels and other equipment for use in converting solar energy into electricity, installation of solar energy systems, and consulting-related services.
The trademark applications cover the financing of solar installations and the monitoring of solar energy generation as well. All the applications are for the trademark “Tesla.”
Will Tesla use all the trademarks?
Previously, Musk said he was planning to sell Tesla’s and SolarCity’s current products under the same roof and use the same sales force if the merger goes through. Based on these trademark applications, it seems a possibility that the whole product line could become Tesla-badged, while the SolarCity brand will be phased out. According to Musk, he never wanted Tesla to be just an automaker.
It should not be dismissed that the EV firm does not always use all the trademarks it applies for. The electric car maker applied for trademarks for “Powerpack,” “Superpack” and “Powerwall” last year after releasing its Tesla Energy stationary energy storage products. The company did launch both the Powerpack and Powerwall, but the “Superpack” has not yet been revealed, and maybe we will never see one in the future.
On Friday, Tesla shares closed down 1.65% at $193.15. Year to date, the stock is down almost 19%, while in the last year, it is down almost 28%. SolarCity shares closed up 1% on Friday, and year to date, the stock is down by over 56%.