Tesla’s shareholders have overwhelmingly approved our acquisition of SolarCity. Excluding the votes of Elon and other affiliated shareholders, more than 85% of shares voted were cast in favor of the acquisition. With SolarCity’s shareholders also having approved the acquisition, the transaction will be completed in the coming days.
Today, we are truly honored to announce that Model X has been awarded the Golden Steering Wheel (Das Goldene Lenkrad), one of the most prestigious automotive awards in the world. Candidates for this award are nominated by hundreds of thousands across Europe for excellence across six categories. The Golden Steering Wheel jury, composed of professional race car drivers, accomplished technicians, editors, designers, and digital and connectivity experts, then spent three days judging Model X.
Accelerating a sustainable energy future is only possible with high-volume factories. They allow us to manufacture high-quality products with economies of scale, making them more affordable and accessible to the world. As the machine that builds the machine, our factories are so important that we believe they will ultimately deserve an order of magnitude more attention in engineering than what they produce. At very high production volumes, the factory becomes more of a product than the product itself.
We very much appreciate that Institutional Shareholder Services (ISS), following an in-depth examination of both companies, recommends in favor of Tesla's acquisition of SolarCity.
Our Mission, Our Vision, and Our Products This year, CO2 concentration levels permanently exceeded the alarming 400 parts per million threshold. Many climate scientists believe this level will have a catastrophic impact on the environment. According to NASA, 2016 had the warmest September in 136 years of modern record-keeping.