How Tesla car parts are fueling Elon Musk's dreams of colonizing Mars1 min read . Updated: 29 Apr 2020, 09:16 AM IST
Tesla in its latest company filing has revealed that SpaceX bought car parts from it worth $600,000 in just the first quarter of 2020.
Elon Musk may have the best recipe to use two of his biggest companies to inter-depend on one another for both operation as well as to make headlines. While Tesla and SpaceX may be quite different from one another in terms of area of expertise, both have been feeding off each other in recent times to attain their respective objectives.
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According to a recent CNBC report, Tesla in its latest company filing has revealed that SpaceX bought car parts from it worth $600,000 in just the first quarter of 2020. The report further highlights that while purchases made by one of these companies from the other is not a recent development, this is the first time that Tesla has reported a large quantity of sale of car parts to SpaceX.
Tesla CEO Musk founded SpaceX in May of 2002 with the eventual aim of transporting people and cargo to Mars. This was before he took over Tesla as a board member.
Musk has previously said that SpaceX spacecraft being developed will make use of battery packs supplied by Tesla. As such, the company reportedly made purchases worth $1 million from the electric car-making company in all of 2019.
Tesla Model X recently became the official vehicle to transport astronauts on SpaceX missions to International Space Stations. In February, the car was launched into orbit after taking a ride aboard SpaceX's Falcon Heavy Rocket.
Industry watchers say that Musk has leveraged Tesla and SpaceX to together create an ingenious marketing strategy without the need for spending millions on regular means. Buying parts from one another also means that Musk would be able to keep costs relatively in check while letting both improve its production qualities.