Elon Musk Plans to Make Holding Company for Tesla and SpaceX image

Elon Musk plans to create a holding company for his rocket business and electric car shares.

Elon Musk is the co-founder of Tesla Motors and founder of the Space Exploration Technologies Corp. He declared that in 2013 may take place an initial public offering of his aerospace company. In May SpaceX, which like Tesla is based in California, became the first private company which sent International Space Station a spacecraft. This month the US government offered the company a $440 million contract to manufacture spacecraft for cargo missions in the near future.

“Am starting to consider whether it would make sense to create a parent corporation that would own the stock,” Musk said today in a Web chat on jalopnik.com. “Not sure if that is feasible or sensible, but am thinking about it.”

Musk also said he plans to add an electric ‘supercar’ to the automaker’s portfolio, taking into consideration racing-style models from companies such as Lamborghini or Ferrari that cost over $200,000. But this new model will be added after the introduction of the battery-powered Model X sport-utility vehicle in 2013.

“It was going to happen right after the Model X, but it is more important to the world that we do a more affordable electric car. Hopefully, we will get to an electric supercar in four to five years.”