Tesla's spending has again fallen short of Wall Street expectations, clouding Elon Musk's plan to transform the maker of electric vehicles into an artificial intelligence and robotics company. Capital expenditures totaled $4.73 billion in the third quarter, Tesla said Wednesday in a statement. Analysts had expected $7.95 billion on average according to estimates. On the company's call with analysts, Chief Financial Officer Vaibhav Taneja said Tesla was cutting its 2026 capital expenditure target to $20 billion, down from more than $25 billion it had previously projected. Tesla invested $8.3 billion over the first six months of the year. In a time of both misinformation and too much information, quality journalism is more crucial than ever.

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SpaceX and Tesla have formed special committees to discuss the possibility of a merger, Elon Musk has revealed during the former's earnings call for the third quarter of 2026. Musk, who serves as CEO for both companies, said the committees were formed at the request of shareholders. The committees are made up of independent directors from SpaceX and Tesla. Musk himself can't be part of the discussions, as someone who's considered a "conflicted party," along with his brother Kimbal Musk. Based on the corporate information listed on the companies' websites, Tesla has seven independent directors, while SpaceX has six. However, Ira Ehrenpreis, the chairperson for Tesla's Compensation and Nominating and Governance committees, also joined SpaceX's board in February.

Why does Elon Musk want to merge Tesla and SpaceX? Elon Musk has spent years building Tesla and SpaceX into a pair of trillion-dollar technology empires. Now, he is considering bringing them together . Asked on Tuesday whether a merger would be a good idea, Musk was clear: Yes. The prospect is more than hypothetical.

Get ready for a Tesla megamerger with SpaceX. This gift link is valid through . There was an error with your gift link. Become a member to share 10 free articles a month. This gift link is valid through .

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The automaker unveiled its next luxury sports car at an event in Texas. It has thrusters on it that can send it airborne. On Thursday night, Tesla and CEO Elon Musk unveiled what's been billed as the company's last human-driven car. Maybe human-piloted is a more accurate way to say it. At a demonstration event McGregor, Texas--at SpaceX's rocket development and testing facility--the new car did what Musk has long promised.

Tesla's Roadster 2 Is Late--and Entering a Different EV World Nine years after its reveal, the overdue Roadster is set to debut on Thursday to an EV market that has grown skeptical of electric hypercars. Almost nine years ago, a tanned, relatively well-rested-looking CEO named Elon Musk announced that his electric car company would make a new sports car, the Tesla Roadster 2. It would be "the fastest sports car ever made, period," Musk said on stage in 2017. "The point of doing this is to give a hardcore smackdown to gasoline cars." Lights flashed, and the red prototype did a few speedy laps behind him. Musk is the leading donor to a political party that last year nixed buying incentives for electric vehicles and last month adjusted fuel-economy standards to make it easier for automakers to skip making EVs altogether.