Elon Musk says Tesla will stop producing its S and X models
Digest more
Elon Musk is exploring a major consolidation of his ventures, potentially merging SpaceX with either his AI startup xAI or electric car giant Tesla. This move, ahead of SpaceX's planned $1.5 trillion IPO,
Elon Musk said Tesla Inc. needs to build and operate what he is calling a “TeraFab” to manufacture semiconductors, a massive undertaking that will cost billions of dollars and mark another expansion beyond what had been the company’s core electric vehicle business.
This merger would bring the Grok chatbot, Starlink satellites, and SpaceX rockets together under one corporation.
In Tesla's annual financial filing, the company said that last year it sold $430 million worth of its energy storage products to xAI, Elon Musk's AI startup.
Jan 28 (Reuters) - Tesla said on Wednesday it will invest $2 billion in CEO Elon Musk's artificial intelligence company xAI - and that production plans for its Cybercab robotaxi and Semi trucks were on track for this year.