Tesla and SpaceX form committees to explore potential merger

Elon Musk announced on Tuesday that Tesla and SpaceX are exploring a possible merger. Both companies have set up special committees of independent directors to study the idea. Shareholders asked for these committees to be created. Musk said he cannot take part in the discussions because he leads both companies, which creates a conflict of interest. However, he has said the merger is "a good idea." SpaceX is currently worth more than $2 trillion, and Tesla is worth around $1.5 trillion. Together, they would form one of the world's largest companies. The two businesses have already been working together on artificial intelligence and chip technology. Any merger would need approval from shareholders of both companies, and Musk warned that no agreement has been reached yet.