Tesla shareholders approve controversial SolarCity merger

“Tesla’s shareholders have overwhelmingly approved our acquisition of SolarCity”, the electric automaker said in a statement.

Just after a majority of Tesla Motors tsla shareholders approved plans for the all-electric automaker to acquire solar energy firm SolarCity scty , Tesla CEO Elon Musk dropped one of his famous bombshells, this time about the company’s new solar roof product.

But now that the merger has been voted upon, Tesla sees an additional $1 billion in revenue upon the entry of SolarCity. “It’s really going to be an incredible something that comes out”. But the added benefit of Tesla’s solar roof is that while they provide almost the same energy benefits of typical solar panel installations on homes, they also happen to look like contemporary roofs with Textured Glass, Slate Glass, Tuscan Glass, and Smooth Glass styles.

Last month, Musk showed off the merger’s potential.

Elon Musk unveils Tesla’s Powerwall 2 battery and SolarCity’s roof panels in Los Angeles in October.

However, the deal raised a red flag in part because of corporate governance concerns.

The merger, first announced in August, is expected to be beneficial for both companies, as analysts say the merger is necessary in order for Musk to turn Tesla into a sustainable company. SolarCity is also founded and run by two of Musk’s cousins. Antonio Gracias and J.B. Straubel also recused themselves from both votes.

The deal, valued at about $2 billion, will integrate the maker of all-electric cars and batteries with the installer of rooftop solar panels.

Analysts wondered why Tesla would want to take on SolarCity while it’s building a big battery factory in Nevada and preparing to launch its first mass-market auto, the Model 3, due out at the end of 2017.

In a blog post published earlier this month, Tesla pushed back against the “naysayers”.

In Tesla’s third-quarter shareholders letter, Musk said the combined company could save more than $150 million in costs in the first full year after closing. Tesla’s stock has lost 3.2% since the election through Thursday, and has tumbled 21% year to date, while the S&P 500 has gained 7% this year.