Rumours of a possible merger between Tesla and SpaceX are gaining momentum, and Tesla investors are asking the company to address them during its second-quarter earnings call. Ahead of the results, shareholders submitted dozens of questions on Tesla’s online investor forum, making a potential SpaceX tie-up one of the most discussed topics after robotaxis and Optimus.
Investors want clarity on merger plans
Several retail investors asked whether Tesla and SpaceX are planning to merge, whether shareholders would get a chance to vote, and how the company would protect Tesla investors if such a deal moves forward.
According to Business Insider, one investor also questioned whether Elon Musk would focus on achieving the goals tied to his new compensation package before considering any merger.
“To reward long-term Tesla retail shareholders for their loyalty, can you commit to achieving at least half of the goals outlined in your 2025 compensation plan before considering any offers to acquire or merge Tesla?” the investor wrote in a post that received nearly 300 votes.
Musk’s compensation plan is tied to ambitious targets, including selling 20 million electric vehicles, reaching 10 million Full Self-Driving subscriptions, and deploying one million robotaxis and Optimus robots.
Analysts expect the topic to come up
Longtime Tesla investor and Gerber Kawasaki CEO Ross Gerber said he expects the merger speculation to be addressed during Tesla’s earnings call.
“I expect management to downplay it, because on the surface it does not create obvious value for either company. It would be complicated, distracting, and difficult to structure in a way that makes everyone happy,” Gerber told Business Insider.
He added that investors are currently more focused on Tesla’s slow robotaxi rollout, which is central to the company’s valuation. However, he believes a merger could still happen in the future.
“SpaceX is where much of the innovation and excitement is right now, while Tesla’s core EV business is under increasing pressure,” Gerber said.
“If investor interest continues shifting away from EVs and toward SpaceX’s growth story, a merger may become a way to reframe Tesla around Elon’s stronger innovation platform,” he added.
Merger rumours are growing
The speculation comes after SpaceX completed its record $86 billion IPO last month. Since then, Tesla shares have fallen nearly 8%, while SpaceX stock has dropped about 35% from its post-listing peak.
Many investors believe combining the two Musk-led companies could strengthen collaboration, as they already work together on projects including the Terafab chip-building initiative.
SpaceX President Gwynne Shotwell also recently suggested that a merger cannot be ruled out. “That might make Elon’s life a little easier, actually,” Shotwell said.
“There’s no question that there’s synergies between Tesla and SpaceX in our futures. Definitely, there’s a convergence of what we’re all trying to accomplish in the future,” she added.