Elon Musk says Tesla and SpaceX have set up committees to explore a merger

Houston, we have an update on all that SpaceX-Tesla merger chatter.

During SpaceX's Tuesday earnings call, Elon Musk stated the two of the companies had created "special committees of autonomous directors" to conversation a possible merger.

Musk, who helms the two companies and owns billions in inventory of each, stated he can't be part of those groups.

"Do I think it would be a fine idea? Yes," he stated on the call. "But at the end of the day, the shareholders have to be supportive of this, and particularly on the Tesla side, we volition need a 50% ballot of all shares, not fair those who vote, but of all shareholders."

He stated clearing that bar would be "quite a elevated hurdle."

This is a evolving story…