Elon Musk and Son Lil X’s Joyride Sparks a $1.2 Billion Industry Shakeup
What began as a simple father-son day out turned into a headline-grabbing corporate maneuver. In May 2025, tech magnate Elon Musk and his five-year-old son, X Æ A-Xii (nicknamed “Lil X”), visited a private racetrack near Austin, Texas. The visit, which started as a bonding experience, unexpectedly led to a billion-dollar acquisition that may shift the dynamics of the electric vehicle (EV) sector.
Racing and Revelation
Musk, known for bringing his children into the public spotlight, had taken Lil X to the Circuit of the Americas for an exclusive car racing day. The child, dressed in a kid-sized Tesla racing suit, watched in amazement as electric vehicles zipped past. One car, in particular, caught his eye—a sleek prototype from VoltSpeed Innovations, a rising EV startup known for its cost-effective trucks.
As the futuristic car completed a lap, Lil X turned to his father and said, “Daddy, I want that one!” Musk, amused and touched, made a spontaneous decision. Within hours, his team was instructed to begin a takeover of VoltSpeed. By nightfall, the deal was sealed: Tesla would acquire VoltSpeed Innovations for $1.2 billion.
Disrupting the EV Landscape
Founded in 2022 by ex-Chrysler engineer Chris Barman, VoltSpeed had been gaining recognition for its $25,000 electric truck—undercutting Tesla’s Cybertruck, which starts at nearly $70,000. Their presence at the Austin track was part of a campaign to attract investors. The startup’s blend of affordability and performance intrigued Musk, who saw VoltSpeed not just as a rival, but as a strategic opportunity.
Timing the Market
The timing couldn’t have been more crucial. Tesla had faced declining profits and a 13% drop in Q1 sales amid consumer discontent and political backlash. Acquiring VoltSpeed was seen as a strategic response to mounting competition, particularly from Chinese EV leader BYD.
On social media platform X, Musk announced the deal: “Lil X picked a winner. Welcome VoltSpeed to the Tesla family—let’s build EVs for everyone!”
Behind the Scenes
Insiders revealed that VoltSpeed’s leadership expected a partnership, not a full buyout. Nevertheless, CEO Chris Barman expressed optimism, stating the deal would help bring high-performance, affordable EVs to a global market. However, concerns remain about Musk’s management style and how it might impact VoltSpeed’s culture.
More Than Just Business?
Some interpreted the acquisition as a heartfelt gesture—a father indulging his son’s curiosity. Others saw it as a carefully crafted PR move. Musk, often criticized for his political alliances and erratic business strategies, had faced family drama and shareholder unrest in recent months. This unexpected acquisition allowed him to project an image of familial warmth amid professional chaos.
What’s Next?
As of May 19, VoltSpeed’s integration into Tesla is underway. There are whispers that Tesla might revive the VoltSpeed race car under a new motorsport brand, possibly entering Formula E. Meanwhile, VoltSpeed’s engineers are reportedly working to adapt their battery technology for use in future Tesla vehicles.
Whether this bold purchase was driven by childlike wonder or strategic foresight, it has reignited public and investor interest in Musk’s long-term EV vision. One thing is certain: the world is watching what Musk—and Lil X—will do next.