SpaceX Bought US$480M of Tesla Megapacks This Year, Filing Shows

Credit: Tesla

SpaceX bought US$151 million worth of Tesla Megapacks in the third quarter of 2026, bringing its purchases of the battery systems to US$480 million for the first nine months of the year. The figures come from SpaceX’s Form 10-Q, filed with the SEC on Thursday.

The disclosure sits in Note 17, which covers related party transactions. Elon Musk is CEO of both companies, and the filing says SpaceX “periodically does business with certain entities with which its CEO and directors are affiliated.” The Megapacks are recorded in property, plant and equipment, so SpaceX is treating them as long-term assets on its balance sheet rather than as an operating expense.

This isn’t new spending for SpaceX. According to the filing, as of December 31, 2025, “the Company purchased $506 million of Megapack products and $131 million of Cybertrucks at manufacturer’s suggested retail price from Tesla.” Adding this year’s US$480 million brings the Megapack total across the two disclosures to US$986 million.

SpaceX doesn’t say where the Megapacks are being used. Apart from the battery and Cybertruck purchases, the 10-Q says “other transactions with Tesla and other related parties during the nine months ended September 30, 2026 and 2025 were immaterial.”

Deals between the two companies are getting a closer look right now. Earlier this week, Musk said Tesla and SpaceX have each formed special committees to look at a possible merger, though he cautioned against treating a deal as certain. The same 10-Q repeats that no decision has been made.

For Tesla, SpaceX is one customer in a market where demand is running hot. On Tesla’s third quarter call, Musk said the company is almost sold out of Megapacks for 2027, with data centers driving much of the interest.

Close to US$1 billion in Megapacks is a lot of battery storage for a rocket and satellite company. What do you think SpaceX is using them for?