Tesla Profit Slumps as Elon Musk’s Car Company Considers Merging With SpaceX
The carmaker, which is controlled by Elon Musk and is considering merging with another of his companies, SpaceX, spent heavily on artificial intelligence and other new technologies.
Elon Musk has suggested that a potential merger between his companies SpaceX and Tesla is a good idea. This notion has gained momentum following SpaceX's earnings call on Tuesday, October 20, 2026. Musk explained that both companies have established special committees of independent directors to examine the possibility of a merger, although he cannot take part in these discussions due to his conflicted interest.
Despite this exploratory phase, Musk expressed his support for the idea. The merger remains a speculative concept at this stage, and no details of any potential deal have been disclosed. While Musk holds majority voting control over SpaceX, Tesla's situation is different. Despite a strong Q3 report, Tesla's Q3 earnings report showed a more mixed outlook, with revenue staying flat year-over-year and net income dropping 43%.
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