Elon Musk makes statement on SpaceX and Tesla merger

During the conference held following SpaceX's third-quarter financial report, Elon Musk responded to claims regarding a merger between Tesla and SpaceX. Stating that the two companies have established special committees to discuss this idea, Musk indicated that saying the merger is certain would be an exaggeration.

Musk answered questions from analysts and investors during the conference held after SpaceX published its third-quarter financial report. Stating that both companies have established special committees to discuss this idea upon the request of shareholders, Musk noted that he did not participate in the discussions of these committees due to a conflict of interest. Musk emphasized that no assumption should be made that the merger will be certain, noting that the process has not yet reached an agreement on terms.

Expressing his belief that a merger of the two companies would create massive value in areas such as artificial intelligence, chip design, robotics, and mass delivery to orbit, Musk stated that he thinks it is a good idea but at the end of the day, shareholder support is essential. Musk explained that for the merger to happen, 50 percent of all Tesla shareholders would need to vote in favor, which is a difficult threshold to overcome.