Deepwater Asset Management’s Gene Munster called Tesla Inc.‘s (NASDAQ:TSLA) SpaceX-powered Roadster an engineering spectacle with little commercial value, arguing that the vehicle showcases Elon Musk’s ambitions to combine Tesla and Space Exploration Technologies Corp. (NASDAQ:SPCX).
Munster Calls Roadster An Engineering Flex
"It was an engineering flex with no commercial value beyond embarrassing traditional car makers," Munster wrote Thursday on X, adding, "Elon can’t wait to bring $TSLA and $SPCX together."
In an earlier post, Munster called the Roadster "a mashup of the two tech teams," highlighting its extraordinary capabilities.
"The car’s goal is to break the laws of physics: 0-60 in one second, suck the road for high-G cornering, and 10 thrusters that cause the car to flip. It’s a ridiculous display of engineering," he wrote.
Tesla And SpaceX Merger Speculation Grows
The assessment follows growing speculation about a Tesla-SpaceX merger. Barclays analyst Dan Levy recently suggested the companies could announce a combination before Tesla’s December shareholder meeting, citing opportunities for AI integration.
Such a combination could potentially bring Tesla’s autonomous driving and robotics expertise closer to SpaceX’s propulsion, aerospace engineering and advanced manufacturing capabilities.
Reuters previously reported that Musk acknowledged growing operational overlap between the companies, although neither has announced a merger.
SpaceX and Tesla did not immediately respond to Benzinga’s request for comment.
Roadster Demonstrates Extreme Performance Amid Commercial Questions
At Thursday’s Texas unveiling, Tesla demonstrated a Roadster accelerating to 60 mph in under one second, driving upside down using suction technology and performing aerial flips with SpaceX-developed thrusters. The long-awaited unveiling featured Performance, Thrust and Rocket variants.
The thruster system uses compressed air to provide additional acceleration and control, enabling maneuvers beyond conventional tire traction.
Musk confirmed production would begin in 2028, years after Tesla’s original 2020 delivery target. Reuters reported that the vehicle offers over 300 miles of range, below the 620 miles promised in 2017.
Munster’s skepticism echoes investor Ross Gerber, who previously called Roadster hovering a gimmick and questioned its sales potential.
Morningstar analyst Seth Goldstein, however, described the Roadster as Tesla’s new showcase vehicle for advanced engineering in a September note.
Price Action: TSLA shares were trading 0.05% lower at $362.27 in after-hours trading on Thursday.
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