SpaceX's $697 Million Megapack and $131 Million Cybertruck Purchase Highlights Tesla Ties

SpaceX filed a 277‑page S‑1 on Wednesday that details its spending. The filing shows that, besides the Megapacks and Cybertrucks, SpaceX also acquired $34 million of Megapacks in the first quarter of this year. It lists other links with Tesla, such as joint work on voice‑assistance features, plans for a shared chip factory, and Tesla advertising on X. The document describes the relationship as a “strong and constructive partnership” built from limited commercial engagements.

The Megapack purchases total $697 million for 2024 and 2025 combined. The Cybertruck purchase amounts to $131 million in 2025 alone. Seth Goldstein, an equity strategist at Morningstar who covers Tesla, said buying work trucks and batteries for energy storage is normal for a company like SpaceX and would be necessary for its operations. He noted that SpaceX paid the manufacturer’s suggested retail price for the Cybertrucks, a practice that usually earns a discount for bulk orders. Based on Tesla’s posted MSRP, the $131 million spend implies roughly 1,200 to 1,800 vehicles, or about 6 % to 9 % of Tesla’s 2025 Cybertruck sales.

The related‑party spending underscores how intertwined Musk’s ventures have become, with SpaceX acting as a major customer for Tesla’s energy and vehicle lines. While Goldstein views the transactions as operationally sensible, the lack of bulk discounts may draw investor scrutiny over pricing transparency. Observers will watch whether future filings show continued growth in these intracompany sales or any shifts toward external suppliers.