Tesla and SpaceX Discuss Possible Merger, Musk Says
Elon Musk, who is CEO of both electric carmaker Tesla and space company SpaceX, said special committees have been formed at both firms to consider a merger. No terms have been agreed, and there is no guarantee they will be.
Elon Musk revealed on Tuesday, October 20, during SpaceX's third-quarter earnings call that electric carmaker Tesla and space company SpaceX have set up special committees to discuss a possible merger. Musk is CEO of both companies, so any deal would join two businesses he leads.
According to Musk, the committees have not agreed on the terms of any transaction, and there is no guarantee that they will. He nevertheless called a merger a “good idea,” while stressing that the decision rests with the special committees of both companies.
Background
Earlier this month, the bank Barclays published a note to clients suggesting that a Tesla-SpaceX combination could be announced ahead of Tesla's annual shareholder meeting. That meeting is scheduled for December 3, 2026.
Why it matters
A deal would bring together two of the companies led by Musk. For now, however, neither the terms nor the likelihood of an agreement is known. The story is developing.
