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Elon Musk has formed special committees at both SpaceX and Tesla to formally explore a potential merger of the two companies.
Musk, who serves as CEO of both companies, said Tuesday (local time) during a conference call following SpaceX's earnings release that he had established separate special committees at each company's board of directors at shareholders' request to review a possible merger.
He said the committees are composed of independent directors and that he cannot participate in the discussions himself due to a conflict of interest.
Citing areas including software and semiconductors, Musk said there are "significant advantages" to combining the two companies "as we approach what is nearly the singularity of superintelligence," adding that he believes "there is a great deal to be gained through collaboration."
He went on to say, "If you're asking whether I think this is a good idea, the answer is yes — but ultimately it needs to be supported by shareholders."
yckim6452@heraldcorp.com
