Elon Musk said SpaceX and Tesla had each formed a committee of independent directors to study a merger. No terms have been agreed, nothing has been signed, and Musk warned that a deal is not certain. Any deal would need support from 50% of all outstanding Tesla shares, not just votes cast, a hurdle Musk called “quite high.”
The proposed combination would be worth roughly $3.5 trillion, according to the report, and would bring together businesses including Grok, X, Starlink and Tesla’s robotaxi and Optimus projects. Tesla’s annual meeting is set for December 3.
