The Strategist

Elon Musk says SpaceX risks bankruptcy

12/01/2021 - 08:26

SpaceX founder and owner Elon Musk has called the situation with the development of the Raptor rocket engine "appalling" and warned of possible bankruptcy over the problem, CNBC reported, citing the content of a corporate email from the businessman.

Daniel Oberhaus
Daniel Oberhaus
The businessman said that he had planned to go on a long holiday after Thanksgiving, which was celebrated in the US on 25 November, but after learning about the engine situation, he decided to personally work on production during this period.

"The Raptor production crisis is much worse than it seemed a few weeks ago," Musk noted. According to him, "extra hands can't hurt to get out of, frankly, a disaster."

According to Musk, the company would face "a real risk of bankruptcy" if it fails to achieve Starship's flight frequency of at least once every fortnight next year.

Musk said on Nov. 17 that SpaceX expects to launch Starship's first orbital flight in January or February as it becomes technically ready and after approval from U.S. regulators.