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Elon Musk said SpaceX and Tesla have each established special committees to begin working out potential terms for a merger between the two companies. Musk cautioned that a deal is not guaranteed to happen.
Elon Musk told analysts on a SpaceX earnings call that a merger between Tesla and SpaceX is being actively explored, with special committees formed at both companies to examine terms. He cautioned no deal is guaranteed and any merger would require shareholder approval, but said he believes it has 'a lot of merit.' Tesla is valued around $1.5 trillion and SpaceX at $2 trillion, meaning a combined entity would rank among the largest mergers ever.
Elon Musk said both SpaceX's and Tesla's boards have created special committees made up of independent directors to evaluate a potential merger between the two companies, a step he said was requested by shareholders. Musk, who is CEO and top shareholder of both firms, said he is excluded from the committees' discussions due to his conflict of interest, and noted he personally supports a merger but cautioned it is not guaranteed to happen.
Elon Musk told investors during SpaceX's third-quarter earnings call that he supports merging SpaceX and Tesla, though he said the decision ultimately rests with shareholders. He confirmed that both companies have formed special committees of independent directors to discuss the idea, but no agreement on merger terms has been reached. Musk noted he is excluded from those committee discussions due to his conflict of interest as head of both firms.
Elon Musk disclosed on Tesla's Q3 earnings call that Tesla and SpaceX have each set up special committees of independent directors to discuss a possible merger. Musk said the committees were formed at shareholders' request and that he is not involved in the talks due to his conflict of interest as CEO of both companies. No deal terms have been reached, and any Tesla-side merger would require approval from 50 percent of all shareholders, not just those voting.
Slate Auto has opened its first physical showroom, the Slate Customer Experience Center, in Chicago's Fulton Market District, located in a former Tesla store and staffed partly by ex-Tesla employees. Visitors can view a prototype of the company's stripped-down electric pickup, customize interior color panels, buy merchandise, and place a $300 deposit to reserve a Slate Truck priced at $24,950 with a projected 205-mile range.
Tesla's Roadster 2 prototype reportedly uses suction-based downforce to press the car onto the road, increasing tire grip for faster acceleration, braking, and cornering. The car's claimed 0-60 mph time of under one second is attributed not to tire friction alone, which physically caps performance, but to a rocket-like thrust system using compressed air shot out the back, similar in principle to a balloon-powered toy car.
Tesla showcased its Roadster performing a jump and an upside-down landing using cold-gas thrusters and compressed air, part of CEO Elon Musk's pitch that the car can effectively 'fly.' Observers have since questioned whether the demo vehicles were stripped-down props lacking full batteries or the suction-fan system Tesla described, and whether two different cars were used for the two stunts.
With Congress still unable to pass national legislation covering autonomous vehicles, cities and states are increasingly writing their own rules for robotaxi operators. The resulting patchwork of local regulations has emerged after years of federal inaction, even as companies like Waymo expand robotaxi service into more cities.
Tesla showcased its next-generation Roadster performing a stunt where it hung upside down on a C-shaped ramp before flipping upright and landing safely. The company says this was achieved through a multi-mode fan and ground sealing system paired with a retractable rear wing, which together create downforce by pulling air from beneath the car. Tesla's approach is not unprecedented, as McMurtry Automotive's Spéirling already uses a similar two-fan suction system called Downforce-on-Demand, and other vehicles have used fan-based downforce before either car.
Following Tesla's unveiling of a Roadster with cold-gas thrusters that let it briefly fly, some Tesla enthusiasts have created AI-generated videos imagining scenarios where this capability would be useful, such as leaping over a collapsing bridge or jumping toll booths. One widely shared clip depicts the car vaulting a gap in a bridge mid-collapse.
At its October 15 event, Tesla showcased the redesigned Roadster with a stunt involving cold-gas thrusters and a suction ramp, and Elon Musk said production would begin in 2028. The company is charging $250,000 to reserve the top 'Thrust' trim, which includes the thruster system. This marks the latest in a series of announcements for a car first unveiled in 2017 with an original 2020 release target.