Musk dismisses report of Tesla's potential China business sale
Musk called the report fake news as Tesla shares rose 1.9% in overnight trading, while the Journal said executives had discussed spinoff, sale or closure options.
- On Friday, The Wall Street Journal reported that Tesla CEO Elon Musk is preparing to separate the company's China business to facilitate a potential merger with SpaceX.
- SpaceX functions as a critical U.S. defense contractor, creating national security concerns if it acquired Tesla's extensive Chinese manufacturing footprint and data access.
- Gigafactory Shanghai historically accounts for more than half of Tesla's global deliveries, serving as a vital export hub for Europe and Asia.
- Beijing may demand safeguards to prevent SpaceX access to data from roughly two million Chinese vehicle owners, while JPMorgan analysts point to a 'practical bottleneck' for regulatory approvals.
- Musk has declined to rule out a merger, citing 'more and more overlap' between the companies as both firms expand artificial intelligence capabilities.
43 Articles
43 Articles
There has been speculation for a long time: could Elon Musk combine his electric car manufacturer Tesla with space company SpaceX? However, a merger would put the China business in the way. Now he rejects a report on concrete preparations as "fake news".
Elon Musk denies rumored Tesla China contingency plans; discussions on supply chain localization shifts persist
Tesla CEO Elon Musk has denied a report on an internal plan within Tesla to prepare for a possible separation of its China operations. Despite his rebuttal, the report has still drawn attention to a wider transformation underway across the technology industry,
Does Tesla's China business stand in the way of a merger with SpaceX? Founder Musk describes a split as "fake news".
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