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20 Tesla Employees Worked At SpaceX Ahead Of NASA Astronauts Launch

Neer Varshney
·2-min read

Tesla Inc. (NASDAQ: TSLA) in a filing with the Securities and Exchange Commission on Thursday revealed it temporarily assigned about 20 of its employees to the Space Exploration Company, better known as SpaceX.

What Happened

The automaker didn't say when the workers were transferred, or for how long. It said the employees are working on "certain technical matters" at SpaceX, as earlier reported by CNBC.

Both companies are run by billionaire entrepreneur Elon Musk and have four board members in common.

Tesla said in the SEC filing that it is paying SpaceX an estimated $100,000 for the assignment of its employees.

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See Also: What To Know About NASA And SpaceX's Crew Dragon Launch

Why It Matters

The disclosure comes at a time when SpaceX is working on launching its Crew Dragon spacecraft to the International Space Station with NASA astronauts Bob Behnken and Doug Hurley on board.

The launch, which would be SpaceX's first crewed mission to space, was scheduled last Wednesday but was delayed because of bad weather. The next launch attempt will take place Saturday.

In a previous filing with the SEC, Tesla revealed it constantly makes financial transactions with its sister company.

The automaker said it sold $1.2 million worth of battery components to SpaceX in the first three months this year and purchased $600,000 worth of "non-battery vehicle parts" from the space company. It also built a "custom tool" for SpaceX at the cost of about $700,000, the filing said.

Price Action

Tesla shares closed 1.8% lower at $805.81 on Thursday and traded slightly higher in the after-hours session at $807.

Image Credit: Courtesy of NASA.

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