Musk confirms SpaceX and Tesla are looking at joining forces in a $3.5 trillion tie-up

Elon Musk has confirmed that SpaceX and Tesla are looking at joining forces, according to Al Jazeera. Musk says the two companies are weighing a tie-up that would create a business worth $3.5 trillion.

The report describes the possible deal as a combination that would produce a "mega company". No further terms of the arrangement are given.

For readers who follow either firm, the figure of $3.5 trillion refers to the value of the business that would result if the two were to merge. Musk's confirmation means the idea is under consideration, and it does not describe a finished agreement.