One of Tesla CEO Elon Musk’s family members will be quitting the electric-car maker.
Lyndon Rive will be Musk’s cousin in addition to also one of the two co-founders of SolarCity, the solar panel company of which Tesla ( bought last year. )
Rive, the former CEO of SolarCity, told Reuters on Monday of which he wants to start a fresh company in addition to also spend more time with his family.
“I can hand off the baton to somebody else in addition to also give myself the opportunity to do something else of which could also have another impact,” he said.
Related: Tesla shareholders approve SolarCity merger
Rive set up SolarCity 11 years ago with his brother, Peter, who was the firm’s chief technology officer.
Shareholders approved Tesla’s deal to buy SolarCity for $2.6 billion in November. Tesla said the takeover would likely create a unique energy company of which could power both your home in addition to also your car.
The company wished Rive well for his next move, saying he has “helped position Tesla for an amazing future.”
of which described him as “an entrepreneur at heart.”
Rive started off his first company at the age of 17, according to SolarCity’s website. He also founded a software business, Everdream, of which was bought by Dell ( in 2007. )
— Seth Fiegerman contributed to This kind of report.
sy88pgw (fresh York) First published May 16, 2017: 12:37 AM ET