Newshot Report: 马斯克 Pushes Forward with SpaceX-Tesla Merger Talks, Announcement as Early as December, Potentially One of the Largest Corporate Mergers Globally
IT Home, November 13 — According to Bloomberg on November 12 local time, two core companies owned by 马斯克 are advancing merger negotiations, with the boards of directors and advisory teams of both sides currently deliberating on transaction terms, the governance structure of the combined company, and other matters.
Sources familiar with the matter say the merger talks between SpaceX and Tesla are making progress, and the two sides are expected to announce a merger agreement in December, with the possibility of a delay until early 2027 at the latest. If the deal is ultimately reached, it would become one of the largest corporate mergers globally.
The report says the negotiations also cover how many shares SpaceX would need to issue to Tesla's existing shareholders to complete the transaction. Representatives for Tesla and SpaceX did not immediately respond to requests for comment.
If the merger is completed, the new company would integrate businesses including electric vehicles, energy storage batteries, rockets, satellites, and artificial intelligence. The business integration of the two companies is related to 马斯克's plans to apply AI technology to fields such as space exploration, autonomous vehicles, and humanoid robots.
However, the deal still faces multiple obstacles, including regulatory and shareholder approvals. Among them, how to handle Tesla's business in China is one of the issues the two sides need to resolve. SpaceX holds contracts with the U.S. government and the defense sector, while Tesla has large-scale and highly profitable manufacturing operations in China, and the two may face conflicts in regulatory requirements.
JPMorgan analyst 拉贾特・古普塔 (Rajat Gupta) noted in a research report to clients last month that SpaceX's U.S. defense contracts and Tesla's business footprint in China are two key factors affecting whether the deal secures approval from regulators and shareholders.
The current merger talks also have prior groundwork. During SpaceX's third-quarter earnings call in October, 埃隆・马斯克 said the boards of both companies had separately established special committees composed of independent directors to study the merger.
马斯克 said that because he serves as CEO of both companies, there is a conflict of interest, so he will not participate in the special committees' discussions. He said at the time that he thought merging the two companies was a good idea, but the final decision rests with the special committees.
As of the close of the most recent trading day, SpaceX had a market value of approximately $1.90 trillion, Tesla approximately $1.55 trillion, and the two companies combined had a market value of approximately $3.45 trillion (IT Home note: approximately 23.07 trillion yuan at current exchange rates).
In fact, the two companies already have a business partnership, including jointly advancing the Terafab semiconductor manufacturing project located in Texas, USA. 马斯克 previously said the project is expected to produce its first batch of test chips in May or June 2027, with plans to achieve mass production in the third quarter of 2028.
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