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Asteroid mining startup faces uphill battle despite industry’s huge promise
Asteroid mining startup Planetary Resources, arguably the pathfinder for the industry’s growing charge, has had difficulty securing reliable funding capable of fueling the company’s aspirations of exploring and mining near-Earth asteroids for resources that could be a boon for in-space industries. Despite the company’s struggles, the near-future prospects of asteroid mining remain bright.
First reported by Geekwire last week, Planetary Resources CEO Chris Lewicki spoke to attendees of the NewSpace 2018 Conference about the status of the struggling asteroid mining company, frankly noting that PR “made a risky and aggressive choice [in 2017] to double down on asteroid exploration” only to have a promising funding round collapse before it could be completed. Without that funding, that company was forced to dramatically shrink its payroll and functionally end all research and development, while also ending operations of a successful satellite tech demonstrator launched in January 2018.
Fundamentally, the difficulties assailing Planetary Resources are unfortunate but should come as no surprise, and they certainly should not take away from the undeniable promise of asteroid mining as both an industry in itself and as an enabler of many other forms of in-space technology and economy, ranging from convenient propellant depots in space to serious, cost-effective manufacturing in zero-gravity.
Further, while the hardware and knowledge needed to successfully gather, process, and refine large quantities of rock from asteroids are extremely immature, a majority of them have already been very successfully demonstrated in space, including an ion thruster-power asteroid orbiter in its sixth year of exploring the massive Ceres and Vesta asteroids and two electrically-powered spacecraft headed to their own respective asteroids – one of which arrived just weeks ago – with plans to collect samples from the ancient surfaces before returning to Earth. Put simply; the technologies present on the extraordinarily successful asteroid explorer spacecraft funded thus far by government space agencies are likely to dramatically grow scientific understanding of the composition of near-Earth asteroids, while also giving private companies a baseline or ceiling for what is achievable today.
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- Before Hayabusa2’s arrival, Ryugu was nothing more than a handful pixels on a screen. (JAXA, University of Tokyo, collaborators)
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- A pair of images captured by Japan’s Hayabusa2 spacecraft show the Ryugu asteroid’s weird features. (JAXA, University of Tokyo, collaborators)
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- The limb of the massive asteroid Ceres, captured by NASA’s Dawn spacecraft in June 2018. (NASA)
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- NASA’s OSIRIS-REx probe is scheduled to arrive at the asteroid Bennu in December 2018. (NASA)
Of note, Japan’s Hayabusa2 sample return mission reportedly cost the country less than $300 million, whereas NASA’s comparable OSIRIS-REx sample return mission cost the agency nearly $1 billion including launch. The $50 million in private capital raised thus far by Planetary Resources has clearly not been enough to get the company into deep space, although it did enable the technology development and facilities required to build several impressive cubesat demonstrators, one of which is currently in orbit after successfully completing its mission and demonstrating the integration of true off-the-shelf sensing equipment on a spacecraft.
In 2017, the government of Luxembourg signed into law the creation of state-funded program intended to incubate asteroid mining startups, and Planetary Resources received a bit less than $30 million in cash and grants in 2016 to facilitate the company’s goal of launching the first private asteroid prospector satellite in 2020. While unclear how this factored into PR’s present financial situation, there may be hope of additional financial assistance to help the company build a path to sustainability. In the meantime, CEO Chris Lewicki is still confident that Planetary Resources will find the resources they need to build spacecraft that will take the company to asteroids and towards the creation of a whole new industry.
Electric vehicle maker Lucid Group has denied rumors of an imminent bankruptcy after a report from this morning sent the stock on a dramatic drop on Wall Street, seeing losses of more than 40 percent during trading hours.
Lucid’s Director of Communications, Nick Twork, responded to the report from Eletric-Vehicles.com, which stated the company’s restructuring advisor, AlixPartners, was asked to review two decisions: taking Lucid shares private or filing for Chapter 11 bankruptcy protection.
The report also claims AlixPartners told the Lucid board to “concentrate on Gravity production while improving its quality, and to temporarily hold back the Lucid Air, the sedan that has defined the company since its launch.”
Twork said:
$LCID The rumors are completely false. The company has sufficient liquidity to carry its operations well into next year, as recently published in its last quarterly filings, and it has not formed any special Board committee to explore the scenarios reported today. Our focus is…
— Nick Twork (@ntwork) July 14, 2026
Shares rebounded after the response to the report, halving its losses as the trading day neared 3 p.m. Eastern.
Lucid has struggled to get its sales off the ground and into more respectable numbers, but the company is in its early years, when things are hard to begin with. It is also backed by several notable investors, including the Saudi Public Investment Fund (PIF), which has nearly limitless money and likely would not ditch an investment of this size so soon.
Lucid shares were down just 14 percent at the time of publication, a far cry from the 55 percent its losses topped out at during the day.
A Tesla owner who purchased a Model S Signature Edition, one of the final 250 units of the all-electric flagship vehicle that the company discontinued earlier this year, is attempting to sell the car despite a no-resale clause that prohibits reselling for the first year.
The car is being sold by J&S Autohaus in Ewing, New Jersey, and is priced at $260,490, well above the $159,420 that Tesla sold it for earlier this year.
🚨 The first Tesla Model S Signature Edition is up for sale for $260,490
Tesla placed a no-resale clause on the Model S and X Signature, so it will be interesting to see if the company takes any action. https://t.co/N9rKGHnbD6 pic.twitter.com/6FZhDL1KNR
— TESLARATI (@Teslarati) July 14, 2026
To those who do not know, the Model S Signature was a highly exclusive, limited-run farewell variant of the Model S Plaid that was produced this year to mark the end of production of both the Model S and Model X, Tesla’s two flagship vehicles.
Limited to just 250 units with invite-only sales, it serves as a collector’s item celebrating the legacy of the Model S, which helped pioneer Tesla’s electric vehicle success since its 2012 launch.
It bundles top-tier performance with bespoke cosmetic and luxury upgrades, plus Tesla’s Luxe Package. Here’s what the Model S Signature has over the typical Model S Plaid:
- Exclusive Exterior – Unique Garnet Red Paint, matching door handles, gold Tesla “T” badges upfront, gold Plaid and Signature badging at the rear.
- Premium Interior – White Alcantara upholstery with gold piping/accents, gold Plaid seat badges, Signature-marked door sills, individually numbered dashboard plaque, gold puddle lights, special interior lighting sequence, and a custom Signature key fob.
- Performance Upgrades – Carbon-ceramic brakes with gold calipers
- Bundled Luxe Package – Full Self-Driving (Supervised), four years of Premium Connectivity, free lifetime Supercharging
- Performance Metrics – ~1,020 horsepower, sub-2-second 0-60 MPH, ~390-mile range
Tesla quickly introduced a No Resale Agreement for the Signature Editions of the Model S and Model X, which would penalize the seller for “the amount of $50,000 or the value received as consideration for the sale or transfer, whichever is greater.”
The company continues:
“If you sell or otherwise transfer the ownership of your Model S or Model X, the remainder of the Recommended Maintenance, Wheel and Tire Protection Plan, and Windshield Protection Plan will transfer automatically to the buyer. The Full Self-Driving (Supervised), Free Supercharging and Premium Connectivity will not transfer with the vehicle and will terminate once the ownership of the Model S or Model X is transferred.”
Tesla will likely come after the seller, especially as it has been about two months since Tesla launched deliveries.
Tesla rolled out Full Self-Driving (Supervised) v14.3.5 yesterday, and about fifty miles of driving on the new version has given me enough time to highlight what seems to be strong about the release and what is not.
Additionally, Tesla has added a few new features with this specific update, which we’ll highlight as well.
Tesla Full Self-Driving v14.3.5 Performance
The new update is business as usual. Things seem to be running completely normal and necessary, but there are a few things that we’ve seemed to pick up on based on our own experience with v14.3.5, as well as what other users are seeing.
Initially, it seems to be more aware of its surroundings, making moves that are incredibly courteous to other drives and operating just a tad more reserved than what the suite might have done previously.
We had two instances where it showed this, the first being FSD needing to pass a Flagger Force vehicle that was placing down signage for the day. Their work truck was right at the front corner of a right-hand turn; typically where most cars travel when they take that turn.
FSD v14.3.5 recognized this, slowed down, and took the turn wide with no issues:
🚨 Tesla Full Self-Driving v14.3.5 takes a wide turn as flagger crews set up signage for the day https://t.co/3v0PL9qhlI pic.twitter.com/i4CKqxE16c
— TESLARATI (@Teslarati) July 13, 2026
Additionally, v14.3.5 backed up for a semi truck that was making a wide turn onto a road my car was on. This is not new, but it seemed to be backing up for courtesy; it didn’t seem completely necessary, but it might have put some peace of mind in the truck driver’s head:
🚨 Tesla Full Self-Driving v14.3.5 backs up for an oncoming tractor trailer taking a wide turn https://t.co/0WuAqNMpRR pic.twitter.com/s6yZGVm5Te
— TESLARATI (@Teslarati) July 13, 2026
X user Mike P, also a Pennsylvania native like myself, shared three clips of his Tesla running v14.3.5 performing similar maneuvers. He said:
“FSD turns right into a small alley that only fits one car at a time, sees oncoming car, reverses out of alley to make space, realizes oncoming car is actually parking, re-enters alley.”
Check it out here:
Rapidfire epic moments on FSD V14.3.5
1) FSD turns right into a small alley that only fits one car at a time, sees oncoming car, reverses out of alley to make space, realizes oncoming car is actually parking, re-enters alley.
2) Insane speed to vehicle cues. As FSD approaches… pic.twitter.com/bSnySSlFHR
— Mike P (@mikepat711) July 13, 2026
It seems like Speed Profiles are still in need of some tweaking; I am adjusting what Speed Profile I’m in frequently, constantly changing it to get it to travel at the correct speed. This was an issue for me on v14.3.4. It seems like they’re just a little inconsistent.
Terrible Parking
Parking attempts on v14.3.5 were not good. There are quite a few people who have said this:
Yeah it seems like FSD v14.3.5 is having some issues with parking early on https://t.co/Bw5ULfVmDq pic.twitter.com/RHdpjOEpIo
— TESLARATI (@Teslarati) July 13, 2026
David Moss, the Tesla owner who has taken multiple coast-to-coast drives without any interventions, also has had some issues with parking early on with v14.3.5:
Horrible first impression v14.3.5 on my 2025 Tesla Model 3 LR RWD Premium 😭
3 terrible parking jobs in 23 min including parking on a ramp in a business park & parking perpendicular out in the road on street only parking situation.
Wish I had a better drive but I still believe… pic.twitter.com/TtyhRHAFG7
— David Moss (@DavidMoss) July 13, 2026
New Features
Tesla has added the ability to open Camera Preview at any time. Previously, it was only available in Park. Here’s what that feature looks like in action:
🚨 Here’s the new Camera Preview feature on FSD v14.3.5 pic.twitter.com/OodfZgDppy
— TESLARATI (@Teslarati) July 13, 2026
Check back later this week for a longer review of what we’ve noticed on Full Self-Driving v14.3.5.
Lucid denies rumors of bankruptcy after over 40% stock drop
Tesla owner attempts resale of Model S Signature Edition for over $260k
