Elon Musk's Cousin, Former SolarCity CEO, Is Leaving Tesla Inc

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Peter Rive, Lyndon's brother and SolarCity co-founder, is apparently staying with Tesla. In an interview, the former SolarCity chief executive gave the token excuse: "he wanted to start a new company next year and spend more time with his family".

Rive has served as head of sales and services for Tesla since past year.

Rive told Reuters that he's more interested in "starting and running companies", but it's also true that Tesla has changed its strategy regarding installations on homes, which definitely impacts Rive's original vision of providing a means to get to low-priced, widespread distribution of aftermarket installations for everyday people. Rive created SolarCity with Musk in 2006.

SolarCity founder and cousin to Elon Musk, Lyndon Rive, announced on Monday that he will be leaving Tesla in June. Since a year ago, SolarCity's former CEO had been serving as head of sales and service for Tesla's energy division.

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Since Tesla acquired SolarCity in November 2016, there's been a gradual integration of the solar installer into Tesla, which included some significant layoffs and restructuring.

Let's hope it's the latter, rather than something being wrong with Tesla or Musk's leadership. Morgan Stanley analyst Adam Jonas has boosted his projection for the amount of cash Tesla will burn through as competition becomes stronger and other businesses encroach on Tesla's business. The acquisition will enable us to transform into a truly integrated sustainable energy company capable of developing, producing, selling, installing, and servicing these products in the most seamless way possible.

The world's top asset owner is SolarCity (now Tesla). SolarCity is the #1 provider of residential and commercial solar.

During the first quarter financial results conference, Elon Musk revealed some additional information about the Tesla Model Y. According to the California firm, the future electric crossover will be put into production by 2020 or at best by the end of 2019. Their goal has been to target consumers who have shown an aversion to traditional solar panels.