Elon Musk might start Tesla, SpaceX holding company; talks electric supercar
Elon Musk is talking about maybe forming a holding that would own stock in both of the companies he’s incredibly busy with these days – Tesla Motors Inc. and Space Exploration Technologies Corp. (SpaceX) – basically to simplify his life. “No actual plans under way,” he said. “[It] gets unwieldy to have lots of companies with me as the only connection.” The holding company may own public shares of both California-based companies. Tesla Motors went public in 2010, and Musk is looking at launching an initial public offering of SpaceX next year.
SpaceX has been doing pretty well lately. In May, it became the first private company to send a spacecraft to supply the International Space Station. In August, SpaceX landed a $440 million U.S. government contract to develop spacecraft for future cargo missions.
Tesla Motors is looking forward to becoming profitable, and that may happen in 2013 through sales of its Model S battery-powered sedan. Next year will see the launch of its all-electric Model X crossover sport-utility vehicle.
Musk also mentioned on a Web chat on Jalopnik that Tesla is thinking about rolling out an electric “supercar.” This would cost more than the Tesla Roadster – supercars from brands such as Ferrari and Lamborghini can cost more than $200,000.
This will need to wait about four-to-five years, he said. It was going to happen right after the Model X, but it might be a good idea to make a less expensive electric car, since it is “more important to the world that we do a more affordable electric car.”
As automakers are learning, offering more affordable electric cars is a good idea. A $7,500 federal tax credit is usually available, but on cars like Model S, it probably doesn’t make much of a difference. The Model S, which began production in June, has a starting price of $57,400 and can cost more than $100,000, depending on battery pack size and other options. If you’re thinking about buying one of these or a $200,000-plus Tesla supercar, a $7,500 tax credit is, proportionally, peanuts.
By Jon LeSage