SpaceX COO Says a Merger With Tesla Would Make Musk's Life Easier

[Financial News]  

Gwynne Shotwell, chief operating officer of SpaceX, suggested the possibility of a merger with Tesla on the company's first day of trading on the 12th (local time).
Tesla shares, which had been falling amid the SpaceX IPO, rebounded on Shotwell's remarks.
Shotwell, SpaceX's No. 2 executive after Musk, said in an interview with CNBC that if SpaceX and Tesla merged, "Elon’s life might get a little easier."
Musk, who became the world's first person to surpass $1 trillion in net assets after SpaceX's listing, holds more than 80% of the voting rights in SpaceX. Market expectations have persisted that it could merge with Tesla, the company he co-founded and where he serves as CEO.
Shotwell raised the possibility of a SpaceX-Tesla merger, but made clear that it is not something for the immediate future.
She said, "The goals both companies want to achieve in the future are aligned, but for now... it's time to focus on SpaceX's immediate challenges."
Musk has recently been consolidating his private companies into one.
Last year, he merged the social media platform X with the artificial intelligence startup xAI, and in February this year, he tied xAI to SpaceX.
For that reason, the market sees a SpaceX-Tesla merger as only a matter of time.
The two companies already share engineers and other resources, and Musk is reportedly discussing a merger. Tesla also holds a stake in SpaceX through its investment in xAI.
If the two companies come under one roof, Tesla could achieve autonomous driving that works anywhere in the world through SpaceX's satellite internet network. That would create a global connected vehicle.
SpaceX would also be able to leverage Tesla's physical AI.
In effect, it would complete Musk's vast ecosystem spanning both Earth and space.

dympna@fnnews.com Song Kyung-jae Reporter