In an internal note sent the day after Thanksgiving, to SpaceX employees, Elon Musk, the group’s CEO, warns of a “serious” risk of bankruptcy.
Space X, the company specializing in the field of astronautics and space flight, will it soon go out of business? In an internal note sent the day after Thanksgiving, to SpaceX employees, Elon Musk, the group’s CEO, warns of a “serious” risk of bankruptcy.
According to the email, of which the American channel CNBC was able to have a copy, the richest man in the world describes a disastrous situation due to a delay in the development of the program Raptors. Indeed, Raptor engines power the massive next-generation Starship rocket, the launch vehicle that will one day replace the Falcon 9. “The Raptor production crisis is much worse than it appeared a few weeks ago”, Musk wrote.
Lack of profitability
Despite the successes chained by SpaceX, the founder of Tesla announces “a real risk of bankruptcy if we cannot achieve a Starship flight rate of at least once every two weeks next year”. But to leave the surface of the Earth, these new generation rockets will need 39 Raptor engines each, which requires a large increase in engine production. “The consequences for SpaceX if we fail to manufacture enough reliable Raptors is that we cannot fly Starship, which means we cannot fly the Starlink V2 satellite,” laments the CEO. In order to avoid bankruptcy, Elon Musk tries to remobilize the troops by asking them to work during the holidays. “We will need all hands on deck to catch up with what is, quite frankly, a disaster,” he wrote.
This letter, revealed by CNBC, lifts the veil on the importance of the crisis experienced by SpaceX after the dismissal of Will Heltsley, the company’s former vice president in charge of propulsion.
While SpaceX is worth $100 billion, the company is suffering in particular from the lack of profitability of its flagship Starship project. The latter should, among other things, allow Internet access to the entire planet via its constellation of Starlink satellites.