Tesla sold more than $5 million worth of stuff to Elon Musk’s other companies in 2020, filings reveal (TSLA)

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Tesla offered a glimpse at the web of connections that linked Elon Musk’s various companies in 2020 in a recent regulatory filing.

SpaceX, Musk’s rocket firm where he serves as both CEO and CTO, bought $2.6 million worth of vehicle components from the electric-car maker in 2020, the document filed Friday with the US Securities and Exchange Commission said. The space startup also spent $1.5 million on “Tesla energy systems and related components and services” in 2020. 

Smaller purchases included $100,000 for “engineering support and resources” and $700,000 for a custom tool that Tesla built for SpaceX at its tool-machining facility. Tesla said the work occurred during previously scheduled downtime at the facility. SpaceX is also expected to pay Tesla roughly $100,000 to license software between 2020 and 2022. 

The money flowed both ways in 2020, with Tesla paying SpaceX $600,000 for use of an aircraft owned and operated by the reusable-rocket company. Musk’s tunneling firm, The Boring Company, paid Tesla $300,000 for energy systems. 

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In all, the several million dollars Tesla brought in from Musk’s other companies made up a tiny fraction of the carmaker’s 2020 revenue of $10.39 billion. 

Musk’s various ventures have worked together in numerous ways over the years. For instance, SpaceX has a small stake in The Boring Company, and SpaceX and Tesla share two board members: Antonio Gracias and Kimbal Musk, Elon Musk’s brother.

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SpaceX uses Tesla Model X SUVs with the NASA logo for various operations, including bringing astronauts to launches. And The Boring Company’s Las Vegas Convention Center Loop will make use of Tesla cars to ferry passengers between three stops. Musk has said Tesla intends to use rocket boosters developed by SpaceX in its upcoming supercar, the Roadster. 

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Source:: Businessinsider – Tech


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