Musk backs exploring a Tesla-SpaceX merger as independent committees weigh terms
Elon Musk said Tesla and SpaceX are exploring a merger, describing a combination of the companies as a “good idea” with “a lot of merit,” while emphasizing that no agreement is certain.
Both companies have formed special committees of independent directors to consider a possible transaction, Musk said during SpaceX’s earnings call Tuesday. He characterized himself as a conflicted party who cannot serve on either committee and said the groups have not agreed on terms.
Musk cited potential cooperation in artificial intelligence software, chip design, robotics, the jointly developed Terafab semiconductor plant and SpaceX’s Starmind satellite constellation. Tesla already uses Grok technology developed by SpaceX-owned xAI in vehicle assistants and in work on its Optimus humanoid robot.
A merger would also require shareholder approval. Musk said Tesla would need support from a majority of all …