As the industry watches with bated breath, SpaceX has officially overtaken Tesla in terms of market capitalization. With a valuation of $2.1 trillion as of Friday's closing bell, SpaceX now holds the sixth spot among US-listed companies, behind giants like Nvidia and Apple.

The possibility of these two tech behemoths merging is not just a tantalizing thought but a real scenario that could reshape the future of transportation. CEO Gwynne Shotwell’s offhand comments suggest this may indeed be on the cards, adding to the speculation swirling around the potential merger.

Elsewhere in the EV landscape, GM’s plans for lithium-iron-phosphate (LFP) cells have shifted gears. Initial reports hinted at a temporary arrangement with Chinese battery manufacturer CATL, but now it seems the automaker is taking matters into its own hands, starting production of LFPs at an Ultium plant.

Meanwhile, Lucid Motors faces some turbulence as Emad Dlala steps down from his executive role. This development comes hot on the heels of Silvio Napoli’s appointment as CEO in April, hinting at a period of transition and potential leadership changes within the company.

The article concludes with a flurry of deals and movements across tech sectors, including Waymo’s acquisition of an extensive proving ground, CameraMatics’ funding round, and Rivian’s delivery of its R2 SUV. These transactions serve as stark reminders that while some projects may falter, others are pushing forward with renewed vigor.