-
Elon Musk said Tuesday that Tesla and SpaceX have each formed special committees of independent directors to evaluate a potential merger.
-
Tesla executives said the company is aiming to begin delivering Cybercabs to external fleet customers by the end of 2026.
-
Rivian announced Thursday that it has acquired Third Dimension AI, a UK-based startup that turns real-world images and video into controllable 3D environments.
Tesla and SpaceX moved closer to a possible combination this week after Elon Musk publicly endorsed the idea, while the EV maker reported flat revenue and a profit decline for the third quarter.
Autonomy efforts advanced elsewhere, with Rivian acquiring a simulation startup and Lucid locking in European robotaxi software. GM detailed a lower-cost next-generation platform, and Ford refreshed the Mustang Mach-E.
Tesla And SpaceX Explore Combination; EV Giant’s Q3 Earnings Drop
Elon Musk said Tuesday that Tesla and his rocket manufacturing company SpaceX have each formed special committees of independent directors to evaluate a potential merger.
On SpaceX’s quarterly earnings call, he described combining the companies as “a good idea” but said he has recused himself from the discussions because of conflicts of interest. Any deal would still require approval from both special committees, the respective boards, and shareholders. Talks remain at an early stage.
Tesla, meanwhile, reported revenue of $28 billion, compared to an analyst estimate of $28.3 billion, and adjusted earnings of $0.48 per share, against an expected EPS of $0.45, for the period ended September 30. Both revenue and earnings, however, dropped from the corresponding quarter of 2025.
Automotive revenue declined 3%, while energy generation and storage revenue fell 16%. Operating margin compressed amid continued heavy investment in AI, robotics, and autonomy, raising capital expenditure by 110% to $4.7 billion. The company, however, slashed its full-year capex estimate to $20 billion, down from the previously estimated $25 billion.
On Tesla’s earnings call, company executives said the company is aiming to begin delivering Cybercabs to external fleet customers by the end of 2026. Tesla-owned Austin Cybercab fleet has grown roughly tenfold since its recent launch; the company also plans to introduce the vehicle in Dallas next month. Notably, the National Highway Traffic Safety Administration still has an open inquiry into how the steering-wheel-free vehicle complies with federal motor vehicle safety standards.
