business dealings among musk’s companies are becoming increasingly frequent. a regulatory filing uploaded on thursday local time shows that last year tesla sold vehicles and battery systems to spacex and xai, generating a total of us$573 million (approximately rmb 3.92 billion). specifically, tesla earned about us$430 million (about rmb 2.942 billion) from selling megapack battery systems to xai, while also receiving roughly us$143 million (about rmb 978 million) from vehicle sales to spacex. notably, the original version of tesla’s annual filing submitted in january this year did not disclose the specific revenue from sales to spacex.
moreover, the overlap among musk’s companies extends far beyond just buying cars and batteries. the filing reveals that tesla has invested us$2 billion in both spacex and xai, while also paying these two companies for commercial and consulting services—us$11.4 million to spacex and us$4 million to xai. over the years, musk has consistently blurred the boundaries between his companies; earlier this year, spacex even acquired xai, further consolidating his corporate empire. in the past, tesla employees have been dispatched to x to help refactor code, and xai’s grok has already been integrated into tesla vehicles and the optimus robot. musk has also disclosed that tesla and spacex will collaborate on the roadster sports car project.
these internal transactions have raised concerns among some investors and analysts: musk may be shifting resources, talent, and ai innovation from the publicly listed company tesla to his private firms, potentially creating conflicts of interest. some are even beginning to speculate whether these companies under musk’s umbrella will eventually merge further, evolving into a super-enterprise.
