Tesla and SpaceX on the way to a merger? Musk is calling it 'a good idea'
This is Musk's first clear and overt support for the giant merger of his two companies. Following the statement, SpaceX shares rose by 8%
Elon Musk said Tuesday that a merger between his two giant companies, Tesla and SpaceX, is a "good idea," and that special committees have even been established to examine the merger. Following the statement, the shares of the space company rose by 8%.
Musk has already spoken about the possibility of such a union because of the increasing overlap between the areas of activity of the two companies. "I think it would be a good idea, but it's really up to the special committees of both companies," he said. "Because I'm a conflicted party, I can't actually be in the discussions."
According to Musk, the merger will help in the areas of the Super Intelligence division and the "Terafab" project, a unified AI chip factory and data center jointly operated by Tesla and SpaceX, which is planned to be built in Texas, United States.
Nearly a fifth of Tesla and just under half of SpaceX are owned by Musk, and analysts believe that the merger would grant him control over the new company.
Tesla was founded in 2003 and focuses on the production of electric vehicles, the development of artificial intelligence and autonomous driving systems, as well as the production and storage of solar and renewable energy. SpaceX is a space and technology company founded in 2002 by Elon Musk. The company operates the Starlink satellite internet network and is developing the Starship system for deep space missions.