Tesla to report earnings after Elon Musk floats SpaceX merger plan
Musk says ‘there’s a lot of merit’ to potential merger that would require approval of 50% of Tesla shareholders
TL;DR
- Tesla's third-quarter earnings exceeded expectations, reporting $28.05bn in revenue and $0.48 earnings per share.
- CEO Elon Musk is considering a merger between Tesla and SpaceX, stating there is "a lot of merit" to the idea.
- The potential merger requires approval from 50% of Tesla shareholders and special committees from both companies are exploring the terms.
- Despite positive earnings, Tesla's stock has fallen over 11% this year due to competition and production hurdles in areas like robotics and autonomous driving.
- Musk recently unveiled the electric Roadster 2, which he claims uses SpaceX technology to 'fly like a rocket', priced at over $200,000.
- Tesla is shifting focus to robotics, AI, and autonomous driving, though targets for its Optimus robot and Robotaxi service have not been met as quickly as anticipated.