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SpaceX on track with Crew Dragon program despite thin NASA budget
On Thursday (Oct. 10th) NASA Administrator Jim Bridenstine, SpaceX CEO Elon Musk, and NASA Demo-2 astronauts Bob Behnken and Doug Hurley spoke at the company’s Hawthorne, CA headquarters after the NASA and SpaceX heads toured the factory and spoke with company engineers.
While discussing NASA’s Commercial Crew Program (CCP) and SpaceX’s ongoing development, Musk revealed – among other things – one particularly impressive detail: the company’s Crew Dragon program is almost perfectly sticking to NASA’s budget.
During an audience Q&A session, Bridenstine touched on the impact federal funding has had on the NASA Commercial Crew Program, partially correctly stating that “the timelines never changed*, but the budget got cut. So, there are consequences when the budget doesn’t meet the vision.” The objective of returning to NASA the ability to launch its own astronauts to the International Space Station (ISS), however, was and still is a central priority.
*Bridenstine’s claim that “the timelines never changed” is explicitly false. In reality, Boeing and SpaceX launch schedules almost immediately changed as a direct result of systematic Congressional underfunding, slipping at least two years after egregious budget cuts from 2011-2014.
Musk further clarified that “the SpaceX Commercial Crew Program is within 1% of the (federal) budget”, meaning that Crew Dragon’s development costs have almost exactly matched the $2.6B NASA awarded SpaceX to build the spacecraft. He went on to reinforce that SpaceX has continuously operated within the confines of that overarching budget, while the three or so years of delays Crew Dragon has suffered can in many ways be traced directly back to the fact that “the NASA [budget] request for Commercial Crew for several years was substantially reduced by congress, I think in some cases by 50%.”
As Musk notes, in response to such a dramatic lack of funding, SpaceX impressively “didn’t spend more money, it just took longer”. He also politely hinted at his awareness of the political machinations that caused those shortfalls, stating that in “the same years that commercial crew was dramatically underfunded, some other unmentioned programs were overfunded.” The “unmentioned programs” that Musk alluded to are, of course, NASA’s own Space Launch System (SLS) and Orion spacecraft, both of which are infamously behind schedule and over budget
As previously reported on Teslarati:
“Former NASA deputy administrator Lori Garver noted that over the ~5 years Congress consistently withheld hundreds of millions of dollars of critical funds from Commercial Crew, NASA’s SLS rocket and Orion spacecraft were just as consistently overfunded above and beyond their budget requests. From 2011 to 2016 alone, SLS and Orion programs requested $11B and received an incredible $16.3B (148%) from Congress, while Commercial Crew requested $5.8B and received $2.4B (41%).”
Beyond the simple fact that there hasn’t been enough federal funding, Bridenstine also mentioned that CCP has suffered from misaligned – and completely unattainable – timelines given the underfunding. He continued to push his platform that, as the NASA Administrator, he has been focused on returning to “realism when it comes to terms of cost and schedule.” He stated that there needs to be more “realism built into the development timelines.”
In an effort to ensure that the safety of the NASA astronauts remains the top priority for Commercial Crew, Bridenstine clarified that the timeline is a “developmental timeline,” and one which may see further delays should something not go as planned or other safety issues arise. Musk assured that SpaceX is more than capable of supporting CCP and upholding its end of the bargain by stating that “we’re going to get this done. We’re going to get [this] done soon and we’re going to get [this] done right.”
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Tesla upgrades Model 3 and Model Y in China, hikes price for long-range sedan
Tesla’s long-range Model 3 now comes with a higher CLTC-rated range of 753 km (468 miles).
Tesla has rolled out a series of quiet upgrades to its Model 3 and Model Y in China, enhancing range and performance for long-range variants. The updates come with a price hike for the Model 3 Long Range All-Wheel Drive, which now costs RMB 285,500 (about $39,300), up RMB 10,000 ($1,400) from the previous price.
Model 3 gets acceleration boost, extended range
Tesla’s long-range Model 3 now comes with a higher CLTC-rated range of 753 km (468 miles), up from 713 km (443 miles), and a faster 0–100 km/h acceleration time of 3.8 seconds, down from 4.4 seconds. These changes suggest that Tesla has bundled the previously optional Acceleration Boost for the Model 3, once priced at RMB 14,100 ($1,968), as a standard feature.
Delivery wait times for the long-range Model 3 have also been shortened, from 3–5 weeks to just 1–3 weeks, as per CNEV Post. No changes were made to the entry-level RWD or Performance versions, which retain their RMB 235,500 and RMB 339,500 price points, respectively. Wait times for those trims also remain at 1–3 weeks and 8–10 weeks.
Model Y range increases, pricing holds steady
The Model Y Long Range has also seen its CLTC-rated range increase from 719 km (447 miles) to 750 km (466 miles), though its price remains unchanged at RMB 313,500 ($43,759). The model maintains a 0–100 km/h time of 4.3 seconds.
Tesla also updated delivery times for the Model Y lineup. The Long Range variant now shows a wait time of 1–3 weeks, an improvement from the previous 3–5 weeks. The entry-level RWD version maintained its starting price of RMB 263,500, though its delivery window is now shorter at 2–4 weeks.
Tesla continues to offer several purchase incentives in China, including an RMB 8,000 discount for select paint options, an RMB 8,000 insurance subsidy, and five years of interest-free financing for eligible variants.
News
Tesla China registrations hit 20.7k in final week of June, highest in Q2
The final week of June stands as the second-highest of 2025 and the best-performing week of the quarter.
Tesla China recorded 20,680 domestic insurance registrations during the week of June 23–29, marking its highest weekly total in the second quarter of 2025.
The figure represents a 49.3% increase from the previous week and a 46.7% improvement year-over-year, suggesting growing domestic momentum for the electric vehicle maker in Q2’s final weeks.
Q2 closes with a boost despite year-on-year dip
The strong week helped lift Tesla’s performance for the quarter, though Q2 totals remain down 4.6% quarter-over-quarter and 10.9% year-over-year, according to industry watchers. Despite these declines, the last week of June stands as the second-highest of 2025 and the best-performing week of the quarter.
As per industry watchers, Tesla China delivered 15,210 New Model Y units last week, the highest weekly tally since the vehicle’s launch. The Model 3 followed with 5,470 deliveries during the same period. Tesla’s full June and Q2 sales data for China are expected to be released by the China Passenger Car Association (CPCA) in the coming days.
Tesla China and minor Model 3 and Model Y updates
Tesla manufactures the Model 3 and Model Y at its Shanghai facility, which provides vehicles to both domestic and international markets. In May, the automaker reported 38,588 retail sales in China, down 30.1% year-over-year but up 34.3% from April. Exports from Shanghai totaled 23,074 units in May, a 32.9% improvement from the previous year but down 22.4% month-over-month, as noted in a CNEV Post report.
Earlier this week, Tesla introduced minor updates to the long-range versions of the Model 3 and Model Y in China. The refreshed Model 3 saw a modest price increase, while pricing for the updated Model Y Long Range variant remained unchanged. These adjustments come as Tesla continues refining its China lineup amid shifting local demand and increased competition from domestic brands.
Elon Musk
Tesla investors will be shocked by Jim Cramer’s latest assessment
Jim Cramer is now speaking positively about Tesla, especially in terms of its Robotaxi performance and its perception as a company.
Tesla investors will be shocked by analyst Jim Cramer’s latest assessment of the company.
When it comes to Tesla analysts, many of them are consistent. The bulls usually stay the bulls, and the bears usually stay the bears. The notable analysts on each side are Dan Ives and Adam Jonas for the bulls, and Gordon Johnson for the bears.
Jim Cramer is one analyst who does not necessarily fit this mold. Cramer, who hosts CNBC’s Mad Money, has switched his opinion on Tesla stock (NASDAQ: TSLA) many times.
He has been bullish, like he was when he said the stock was a “sleeping giant” two years ago, and he has been bearish, like he was when he said there was “nothing magnificent” about the company just a few months ago.
Now, he is back to being a bull.
Cramer’s comments were related to two key points: how NVIDIA CEO Jensen Huang describes Tesla after working closely with the Company through their transactions, and how it is not a car company, as well as the recent launch of the Robotaxi fleet.
Jensen Huang’s Tesla Narrative
Cramer says that the narrative on quarterly and annual deliveries is overblown, and those who continue to worry about Tesla’s performance on that metric are misled.
“It’s not a car company,” he said.
He went on to say that people like Huang speak highly of Tesla, and that should be enough to deter any true skepticism:
“I believe what Musk says cause Musk is working with Jensen and Jensen’s telling me what’s happening on the other side is pretty amazing.”
Tesla self-driving development gets huge compliment from NVIDIA CEO
Robotaxi Launch
Many media outlets are being extremely negative regarding the early rollout of Tesla’s Robotaxi platform in Austin, Texas.
There have been a handful of small issues, but nothing significant. Cramer says that humans make mistakes in vehicles too, yet, when Tesla’s test phase of the Robotaxi does it, it’s front page news and needs to be magnified.
He said:
“Look, I mean, drivers make mistakes all the time. Why should we hold Tesla to a standard where there can be no mistakes?”
It’s refreshing to hear Cramer speak logically about the Robotaxi fleet, as Tesla has taken every measure to ensure there are no mishaps. There are safety monitors in the passenger seat, and the area of travel is limited, confined to a small number of people.
Tesla is still improving and hopes to remove teleoperators and safety monitors slowly, as CEO Elon Musk said more freedom could be granted within one or two months.
Tesla upgrades Model 3 and Model Y in China, hikes price for long-range sedan
Tesla China registrations hit 20.7k in final week of June, highest in Q2
Tesla investors will be shocked by Jim Cramer’s latest assessment
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