Elon Musk just confirmed the Tesla and SpaceX merger step everyone was waiting for

According to Teslarati, Tesla and SpaceX have each formed special committees of independent directors to study a possible merger. Musk confirmed this during SpaceX's third quarter earnings call, stating he supports a merger because of shared work on super intelligence software, chip design, the Terafab facility, robotics, mass to orbit and connectivity. However, the committees have not agreed on terms, and Musk cautioned that assuming a merger is certain would overstate the situation. Any deal would require approval from 50 percent of all outstanding Tesla shares, a high hurdle that caused a 2025 board declassification attempt to fail.

Tesla's December 3 annual meeting ballot does not include a merger vote, so a special meeting would likely be needed. SpaceX reported third quarter revenue of $14.58 billion, with its Super Intelligence segment now the largest at $7.56 billion. Separately, SpaceX showed a simulation of Starship Flight 15 attempting to catch both the Super Heavy booster and the ship with the launch tower, a step Musk called key to full reuse. The company expects the Flight 15 license to allow tower catch for both stages and aims for weekly flights in the first half of 2027.

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Elon Musk just confirmed the Tesla and SpaceX merger step everyone was waiting for — Teslarati