Elon Musk Says That SpaceX May Be Nearing Bankruptcy
SpaceX may not be flying high for long as the company is reportedly facing production issues that threaten the entire company. In a companywide email, CEO Elon Musk revealed that the lack of progress towards the company’s Raptor engines is putting SpaceX at genuine risk of bankruptcy.
In a copy of the email obtained by CNBC, Musk came across as angry with the lack of progress SpaceX has made in developing the Raptor engines that power its Starship rocket.
“We face the genuine risk of bankruptcy if we cannot achieve a Starship flight rate of at least once every two weeks next year,” Musk reportedly said.
Starship is the massive, next-generation rocket SpaceX is developing to launch cargo and people on missions to the moon and Mars. To date, the company has only tested out prototypes of the rocket on short test flights at its facility in Texas.
