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China completes test flight of new spacecraft that resembles SpaceX Crew Dragon
China’s new uncrewed spacecraft successfully landed back on Earth on Friday, May 8, following a three-day mission. It touched down intact with the help of a trio of parachutes, making landfall in the Chinese desert at 1:49 a.m. ET (0549 UTC). The Chinese space agency released photos soon after that showed a spacecraft resembling a toasty marshmallow.
If you think have you deja vu while looking at this image, you’re not wrong. The new Chinese spacecraft resembles another spacecraft that is soon to carry its first crew of astronauts into space. That’s right; it looks similar to SpaceX’s Dragon capsule.
The mission is one of the first steps the Chinese are taking to prepare for future lunar missions. The spacecraft launched atop a Long March 5B — China’s most powerful rocket. During the test, the spacecraft soared to an altitude of nearly 5,000 miles above the Earth. The trial, which was similar to the initial flight test of Orion that NASA completed in late 2014, was heralded as a success.
China has not revealed any detailed plans for its deep space ambitions, but we do have a rough idea of what the country and its space program hope to achieve. With the help of the Long March 5B, China aims to build its space station in low-Earth orbit sometime in the new few years.
It’s been rumored that this new spacecraft will probably play some sort of role in the development and maintenance of this future space station.
China also has big plans for the moon and even Mars. The China Aerospace and Technology Corp is building an even larger Dragon-like spacecraft that could one day transport taikonauts (Chinese astronauts) to the moon. Chinese officials have expressed their desires to build a lunar outpost in the future as well as eventually send humans on to Mars.
The country made history in 2019 when it became the first to land a rover on the far side of the moon. Ever since the Chang’e 4 lander along with its Yutu 2 rover have been beaming back incredible photos of the lunar surface as well as taking scientific measurements.
But China’s lunar plans do not stop there. Although specific details and dates are scarce, the country has mentioned the notion of lunar landing sometime in the 2030s.
If all goes as planned, this summer, NASA will not be the only space agency sending a rover to Mars. The UAE also has plans to send a spacecraft to the red planet. The Hope spacecraft will launch from Japan this summer and spend two years studying the Martian atmosphere.
NASA’s Perseverance Mars rover will also launch in July and is expected to touch down on the red planet’s surface in Feb. 2021,it a region is known as Jezero Crater. Once it arrives, it will search for signs of past life, while collecting samples of Martian rock and soil to send back to Earth at a later time.
China is also expected to launch a spacecraft to Mars this summer. The Chinese space agency recently revealed that this mission would be called “Tianwen 1,” which means the quest for heavenly truth. To date, only the U.S. and the former Soviet Union have landed spacecraft on Mars. However, both the European Space Agency and the Indian Space Research Organization (ISRO) have operational spacecraft orbiting the red planet.
The Chinese spacecraft will consist of three parts: an orbiter, a stationary lander, and a six-wheeled rover. Together the trio will study the Martian atmosphere, analyze the regolith and rocks, as well as try to better understand the Martian environment as a whole.
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Xpeng CEO: Tesla FSD 14.2 has developed “near-Level 4” performance
While acknowledging that imperfections remain, the Xpeng CEO said FSD’s current iteration significantly surpasses last year’s capabilities.
Xpeng CEO He Xiaopeng has offered fresh praise for Tesla’s Full Self-Driving (FSD) system after revisiting Silicon Valley more than a year after his first hands-on experience.
Following extended test drives of Tesla vehicles running the latest FSD software, He stated that the system has made major strides, reinforcing his view that Tesla’s approach to autonomy is indeed the proper path towards autonomy.
Tesla FSD closing in on Level 4 driving
During his visit, He test-drove a Tesla equipped with FSD V14.2. He also rode in a Tesla Robotaxi. Over roughly five hours of driving across Silicon Valley and San Francisco, He said both vehicles delivered consistent and reassuring performance, a notable improvement from his experience a year earlier.
According to He, Tesla’s FSD has evolved from a smooth Level 2 advanced driver assistance system into what he described as a “near-Level 4” experience in terms of capabilities. While acknowledging that imperfections remain, the Xpeng CEO said FSD’s current iteration significantly surpasses last year’s capabilities. He also reiterated his belief that Tesla’s strategy of using the same autonomous software and hardware architecture across private vehicles and robotaxis is the right long-term approach, allowing users to bypass intermediate autonomy stages and move closer to Level 4 functionality.
He previously tested Tesla’s FSD V12.3.6 and Waymo vehicles in California in mid-2024, noting at the time that Waymo performed better in dense urban environments like San Francisco, while Tesla excelled in Silicon Valley and on highways.
Xpeng’s ambitious autonomy roadmap and internal challenge
The Silicon Valley visit also served as a benchmark for Xpeng’s own autonomy ambitions. He stated that Xpeng is looking to improve its VLA autonomous driving system to match the performance of Tesla’s FSD V14.2 within China by August 30, 2026. Xpeng is poised to release its VLA 2.0 smart driving software next quarter, though He cautioned that the initial version will not be able to match FSD V14.2’s capabilities, as noted in a CNEV Post report.
He also added a personal twist to the goal, publicly challenging Xpeng’s autonomous driving team. If the performance target is met by the 2026 deadline, the CEO stated that he will approve the creation of a Chinese-style cafeteria for Xpeng’s Silicon Valley team. If not, Liu Xianming, head of Xpeng’s autonomous driving unit, has pledged to run naked across the Golden Gate Bridge, He noted.
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Another Tesla Model 3 variant sold out for January 2026 in China
A look at Tesla China’s order page shows that new Model 3 LR RWD orders now have an estimated delivery date of February 2026.
Another Tesla Model 3 variant in China appears to have sold out for January 2026, with the vehicle now showing an estimated delivery date of February 2026 for new orders. This bodes well for the all-electric sedan, which has maintained notable sales despite more affordable rivals like the Xiaomi SU7 and its crossover sibling, the Model Y.
Model 3 LR RWD joins February 2026 queue
A look at Tesla China’s order page for the all-electric sedan shows that new Model 3 Long Range Rear Wheel Drive orders now have an estimated delivery date of February 2026. Priced from RMB 259,500 ($36,810), the LR RWD sits as the second-lowest-priced trim in Tesla China’s four-variant Model 3 lineup. The move follows a similar delivery timeframe for the Model 3 Performance, which remains the most expensive option for the vehicle, as noted in a CNEV Post report.
The estimated delivery dates of the two remaining Model 3 variants remain unchanged for now. The base RWD version, starting at RMB 235,500, and the LR AWD variant, priced from RMB 285,500, both continue to list estimated delivery times of 4-6 weeks. Tesla China, for its part, has continued to list in-stock Model 3 vehicles and is actively encouraging buyers to select inventory units for delivery before the end of the year.
Model Y delays and policy shifts
Delivery timelines for the Model Y in China are also stretching into 2026. All customized Model Y variants now show February 2026 as their estimated delivery date, except for the entry-level version, which still lists January 2026. Tesla has been urging customers since November to prioritize purchasing inventory vehicles, a push aimed at maximizing year-end deliveries.
Timing matters for Chinese buyers due to upcoming changes in government incentives. China’s new energy vehicle purchase tax exemption will be scaled back in 2026, which means customers who take delivery next year could face higher tax costs compared to those who are able to receive vehicles before the end of the year.
As per data from the China Passenger Car Association, Tesla recorded retail sales of 73,145 vehicles in November, down 0.47% year over year. From January through November, Tesla’s retail sales in China totaled 531,855 units, a 7.37% year-over-year drop.
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Wedbush’s Dan Ives sees ‘monster year’ ahead for Tesla amid AI push
In a post on X, the analyst stated that the electric vehicle maker could hit a $3 trillion market cap by the end of 2026 in a bullish scenario.
Wedbush analyst Dan Ives is doubling down on Tesla’s (NASDAQ:TSLA) long-term upside. In a post on X, the analyst stated that the electric vehicle maker could hit a $3 trillion market cap by the end of 2026 in a bullish scenario, thanks to the company’s efforts to develop and push its artificial intelligence programs.
An aggressive valuation upside
Ives, Wedbush’s global head of tech research, stated in his post that Tesla is entering a pivotal period as its autonomy and robotics ambitions move closer to commercialization. He expects Tesla’s market cap to reach $2 trillion in 2026, representing roughly 33% upside from current levels, with a bull case up to a $3 trillion market cap by year-end.
Overall, Ives noted that 2026 could become a “monster year” for TSLA. “Heading into 2026, this marks a monster year ahead for Tesla/Musk as the autonomous and robotics chapter begins. We believe Tesla hits a $2 trillion market cap in 2026 and in a bull case scenario $3 trillion by end of 2026… as the AI chapter takes hold at TSLA,” the analyst wrote.
Ives also reiterated his “Outperform” rating on TSLA stock, as well as his $600 per share price target.
Unsupervised Full-Self Driving tests
Fueling optimism is Tesla’s recent autonomous vehicle testing in Austin, Texas. Over the weekend, at least two Tesla Model Ys were spotted driving on public roads without a safety monitor or any other occupants. CEO Elon Musk later confirmed the footage of one of the vehicles on X, writing in a post that “testing is underway with no occupant in the car.”
It remains unclear whether the vehicle was supported by chase cars or remote monitoring, and Tesla has not disclosed how many vehicles are involved. That being said, Elon Musk stated a week ago that Tesla would be removing its Safety Monitors from its vehicles “within the next three weeks.” Based on the driverless vehicles’ sightings so far, it appears that Musk’s estimate may be right on the mark, at least for now.
Xpeng CEO: Tesla FSD 14.2 has developed “near-Level 4” performance
Another Tesla Model 3 variant sold out for January 2026 in China
