SpaceX owner and Tesla CEO Elon Musk looks on after arriving on the red carpet for the Axel Springer award, in Berlin, Germany, December 1, 2020. REUTERS/Hannibal Hanschke/Pool

FRANKFURT (Reuters) – Tesla Chief Executive Elon Musk on Tuesday said he was open to discussing a merger of his start-up electric carmaker with a rival.

Speaking at an Axel Springer event in Berlin, Musk was asked whether he would consider buying a rival carmaker given that Tesla’s market value of more than $500 billion would make it easy to launch a takeover bid.

“We are definitely not going to launch a hostile takeover. If somebody said it would be a good idea to merge with Tesla, we would have this conversation,” he said.

Reporting by Edward Taylor; Editing by Christoph Steitz

Via Reuters Finance

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