Elon Musk, the CEO of SpaceX, said on Saturday that he expects the company to spend about $2 billion to develop the Starship rocket - which will reach orbit on its next flight - this year.
In an interview with CNBC, Musk said that he expects Starship's next launch to reach orbit. Spaceship's first launch exceeded his expectations, Musk said on a Twitter Spaces discussion live-tweeted by CNBC space reporter Michael Sheetz.
SpaceX will not need to raise any additional funds for the purpose, he said, according to CNBC. While Musk said the chances of Starship reaching orbit by 80% this year, he is confident that the rocket will reach orbit within 12 months.
The first test flight of Starship was carried out in April by SpaceX. The rocket exploded in less than four minutes after take-off, hurting the launch pad at Starbase and causing dust to rain down on residents of Port Isabel, Texas.
The damage at the launchpad is quite small, Musk said, and that Starship would be ready to relaunch in 6 - 8 weeks from a pad and rocket standpoint. The debris is not toxic and Musk said the company is not aware of any significant damage to the environment due to the launch.
The FAA is pursuing an investigation into Starship's explosion. Starship cannot be operated again until the FAA ascertains that the rocket does not affect public safety. It may be completed within two weeks or take several months depending on the circumstances, the Federal agency said on its website.
Musk's wish for a multi-planetary life was a big part of his dreams of making life multi-planetary. In 2020, Tesla said he would send a million people to Mars by 2050.
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