News
Elon Musk pegs SpaceX BFR program at $5B as NASA’s rocket booster nears $5B in cost overruns
At the same time as NASA’s overrun-stricken Space Launch System (SLS) continues to limp towards its continuously delayed launch debut, now tentatively expected no earlier than (NET) 2021, SpaceX is forging ahead with the development of an equivalently capable launch vehicle known as BFR, comprised of a spaceship (BFS) and booster (BFB).
During a September 17th update to the next-gen SpaceX rocket’s steady progress, CEO Elon Musk offered a rough cost estimate of $5B to complete its development – no less than $2B and no more than $10B. According to NASA’s Office of the Inspector General (OIG), Boeing – primary contractor for NASA’s SLS “Core Stage” or booster – is all but guaranteed to burn through a minimum of $8.9B between 2012 and the rocket’s tentative 2021 launch debut.
NASA is finally (officially) acknowledging that EM-1, the maiden launch of SLS, will slip until at least June 2020. Sources tell us to expect another slip to 2021, official or not.https://t.co/CYf9SqbhBY
— Eric Berger (@SciGuySpace) October 3, 2018
Originally contracted in 2014 to complete SLS booster development, production, and preparation by 2018 at a cost of $4.2B, Boeing has overrun its budget by a bit less than 50% (up to $6.2B) and overshot its scheduled launch debut by more than 2.5 years. Per an October 10th audit of the SLS booster program, NASA OIG has reasonably concluded that Boeing will pass that $6.2B expenditure estimate – meant to last until 2021 – in December 2018, meaning that at least an additional $2.7B will be required from NASA between now and 2021 if SLS is to have a chance at launching that year.
In other words, compared to Boeing’s first serious 2014 contract for the SLS Core Stages – $4.2B to complete Core Stages 1 and 2 and launch EM-1 in Nov. 2017 – the company will ultimately end up 215% over-budget ($4.2B to $8.9B) and ~40 months behind schedule (42 months to 80+ months from contract award to completion). Meanwhile, as OIG notes, NASA has continued to give Boeing impossibly effusive and glowing performance reviews to the tune of $323 million in “award fees”, with grades that would – under the contracting book NASA itself wrote – imply that Boeing SLS Core Stage work has been reliably under budget and ahead of schedule (it’s not).
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- SLS Block 1. (NASA)
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- An overview of SLS. (NASA)
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- Rockets are perhaps even more capital intensive. (SpaceX)
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- BFR 2018’s Spaceship, BFS. (SpaceX)
The “Satisfactory” Stuff
In reality, Boeing has not once been under budget or ahead of schedule during any of 6+ NASA performance reviews.
“Boeing should have received a “satisfactory” rating for [two review periods]; a “good” rating for [one review period]; and an “unsatisfactory” rating (no award fee) for [the 2017 review period].”
Instead, NASA has given Boeing three “Very Good” (nearly perfect) reviews and three “Excellent” (perfect) reviews over the last 6 years, ultimately dispersing $323M of pure-profit “award fees” thanks to those grades, while the OIG firmly disputes Boing’s worthiness for at least $65M of that sum.
It is pretty pathetic when the only response that @BoeingSpace can muster via @BKingDC at its #politicospace PR effort in response to a damning @NASA_SLS report by @NASAOIG is to dump on the Saturn V – a rocket that actually flew – and worked – half a century ago. https://t.co/daN91bzwpC
— NASA Watch (@NASAWatch) October 12, 2018
Boeing – recently brought to light as the likely source of a spate of egregiously counterfactual op-eds published with the intention of dirtying SpaceX’s image – also took it upon itself to sponsor what could be described as responses to NASA OIG’s scathing October 10th SLS audit. Hilariously, a Politico newsletter sponsored by Boeing managed to explicitly demean and belittle the Apollo-era Saturn V rocket as a “rickety metal bucket built with 1960s technology”, of which Boeing was the core stage’s prime contractor.
At the same time, that newsletter described SLS as a rocket that will be “light years ahead of thespacecraft [sic] that NASA astronauts used to get to the moon 50 years ago.” At present, the only clear way SLS is or will be “light years” ahead – as much a measure of time as it is of distance – of Saturn V is by continuing the rocket’s trend of endless delays. Perhaps NASA astronomers will soon be able to judge exactly how many “light years ahead” SLS is by measuring the program’s redshift or blueshift with one of several ground- and space-based telescopes.
Ultimately, this is a particularly effective bit of self-mockery in the context of rationale lately used by Boeing and NASA to shrug off the jaw-dropping Core Stage contract’s underperformance, missteps, schedule slips, and budget overruns, namely that building big, complex rockets is hard. NASA and Boeing, neither of which have any meaningful experience building big, complex rockets – aside from Saturn IB, Saturn V, and the Space Shuttle – thus should be given a break for reliably and dramatically underestimating the difficulties of doing so in the 21st century.
One of the most breathtaking things about the new SLS report is the response by NASA's Gerstenmaier. Essentially, he says, this a is a big, complex rocket. And it's hard to build this stuff.https://t.co/ou8SFhji6a
— Eric Berger (@SciGuySpace) October 10, 2018
Simultaneously, Boeing and NASA still continue to act as if they are the foremost global experts of building extremely large rockets and continue to throw pile upon pile of taxpayer billions at overpromised attempts to prove as much. It’s no more than a masochistic dream to imagine what could have been or might be if NASA instead redirected those billions towards US aerospace companies with track records of success through fixed-cost contracts or straight-up private funding (SpaceX and Blue Origin, primarily), but it’s often hard not to at least think about the possibilities.
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News
Tesla removes Model S and X custom orders as sunset officially begins
In a significant development that marks the beginning of the end for two of its longest-running models, Tesla has removed the custom order configurator for the Model S sedan and Model X SUV from its website.
Tesla has officially started the “honorable discharge” of the Model S and Model X with a massive move, removing the two vehicles from Custom Orders and only offering inventory options.
It is the latest move Tesla has made to pull the Model S and Model X from its lineup, a decision CEO Elon Musk announced during its last quarterly earnings call.
Tesla brings closure to flagship ‘sentimental’ models, Musk confirms
In a significant development that marks the beginning of the end for two of its longest-running models, Tesla has removed the custom order configurator for the Model S sedan and Model X SUV from its website.
As of April 1, visitors to tesla.com/model-s and tesla.com/modelx are now redirected exclusively to limited inventory listings rather than a design studio, allowing buyers to select paint, wheels, interior options, or performance upgrades. Only pre-built vehicles currently in stock are available for purchase or lease.
Tesla CEO Elon Musk confirmed the change directly on X, posting: “Custom orders of the Tesla Model S & X have come to an end. All that’s left are some in inventory.”
Custom orders of the Tesla Model S & X have come to an end. All that’s left are some in inventory.
We will have an official ceremony to mark the ending of an era. I love those cars.
This was me at production launch 14 years ago: pic.twitter.com/6kvCf9HTHc
— Elon Musk (@elonmusk) April 1, 2026
We will have an official ceremony to mark the end of an era.” Accompanying the statement was a throwback photo from the Model S production launch in 2012, underscoring the emotional weight of the decision.
Musk had first signaled the phase-out during the company’s Q4 2025 earnings call in January, describing it as time for an “honorable discharge” of the programs to free up resources at the Fremont factory for Optimus humanoid robot production and autonomous vehicle initiatives.
The Model S, introduced in 2012, and the Model X, which followed in 2015, were instrumental in establishing Tesla as a premium electric vehicle leader.
The sedan offered class-leading range and acceleration, while the SUV’s signature falcon-wing doors became an iconic feature. Together, they proved EVs could compete in the luxury segment. Yet sales volumes have dwindled in recent years as Tesla prioritized higher-volume Model 3 and Model Y vehicles.
The flagships now represent a tiny fraction of overall deliveries, making continued custom production inefficient as the company accelerates toward robotaxis and next-generation platforms.
Prospective buyers are urged to act quickly. Remaining U.S. inventory vehicles—some nearly new—may include incentives such as lifetime free Supercharging, Full Self-Driving (Supervised) capability, and premium connectivity, depending on configuration.
Leasing options start around $1,699 per month for select Model X units, though exact pricing and availability fluctuate. International markets, including Europe and China, have already seen similar restrictions in recent months.
The move aligns with Tesla’s broader strategy to streamline its lineup and redirect manufacturing capacity toward autonomy and AI-driven products. While some enthusiasts lament the loss of personalization, the company views the transition as necessary progress.
Tesla has indicated that once the current inventory sells out, new Model S and Model X vehicles will no longer be offered.
For loyal owners and fans, the promised “official ceremony” may provide a fitting send-off. In the meantime, the website change serves as a clear signal: the era of bespoke flagship Teslas has quietly concluded, and the focus has fully shifted to the future.
Elon Musk
SpaceX files confidentially for IPO that will rewrite the record books
SpaceX files confidentially for a record-breaking IPO targeting a $1.75T valuation and $80B raise, driven by Starlink growth and its xAI merger.
Elon Musk’s rocket and satellite company submitted its draft registration to the U.S. Securities and Exchange Commission today for an initial public offering, targeting June at a $1.75 trillion valuation. This would be the largest in history.
SpaceX has filed confidentially with the SEC, first reported by Bloomberg. SpaceX would be valued above every S&P 500 company except Nvidia, Apple, Alphabet, Microsoft, and Amazon.
The filing uses a confidential process that allows companies to work through SEC disclosures privately before initiating a public roadshow. With a June target, official details through a formal prospectus is expected to go public in April or early May, after which SpaceX must wait at least 15 days before beginning investor marketing.
While SpaceX is best known for its Falcon 9 and Starship rockets, the $1.75 trillion valuation is anchored by Starlink, its satellite internet service. Starlink ended 2025 with 9.2 million subscribers and over $10 billion in revenue, which is a figure analysts project could reach a staggering $24 billion by the end of 2026. A February all-stock merger with xAI, Musk’s artificial intelligence venture, further boosted the valuation.
SpaceX officially acquires xAI, merging rockets with AI expertise
Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley are lined up as senior underwriters. SpaceX is also considering a dual-class share structure to preserve insider voting control, and plans to allocate up to 30% of shares to retail investors, which is roughly three times the typical norm.
Elon Musk
Elon Musk hints at “official ceremony” with throwback photo to close Tesla Model S, Model X chapter
Elon Musk promises an official ceremony to mark the end of Tesla Model S and Model X production.
Tesla has officially begun winding down production of the Model S and Model X, sending farewell emails to U.S. customers on March 27 and updating the website to reflect the end of the line. Shoppers visiting Tesla.com now find only a limited set of Model S and Model X inventory units available for purchase, with no option to configure a new factory build. The move formalizes what CEO Elon Musk announced on the company’s Q4 2025 earnings call in January, when he said it was “time to basically bring the Model S and X programs to an end with an honorable discharge.”
Musk posted on X a throwback photo of himself speaking at the Model S production launch in 2012, and noting “We will have an official ceremony to mark the ending of an era. I love those cars.”
The mention of an official ceremony is notable. Tesla has not held a formal farewell event for a vehicle before, and Musk’s wording suggests this will be something deliberate rather than a quiet line shutdown. Given that Musk’s X post shows a photo of him on stage with a microphone in front of an audience at the Fremont factory, it wouldn’t be too far-fetched to expect a closing ceremony to take place at the same location. Perhaps? Whether it becomes a public event, a private gathering for employees, or a livestreamed moment on X remains to be seen.
Custom orders of the Tesla Model S & X have come to an end. All that’s left are some in inventory.
We will have an official ceremony to mark the ending of an era. I love those cars.
This was me at production launch 14 years ago: pic.twitter.com/6kvCf9HTHc
— Elon Musk (@elonmusk) April 1, 2026
The Model S first went on sale nearly fifteen years ago and was Tesla’s first fully in-house designed vehicle, proving that an electric car could be fast, desirable, and capable of long distance on a single charge. The Model X followed in 2015, turning heads with its unmistakable and distinctive falcon-wing doors, while becoming one of the first all-electric SUVs on the market. Tesla’s two flagship vehicles would ultimately push legacy automakers to take all-electric transportation seriously and help fund development of the more affordable Model 3 and Model Y.
By 2025, however, both models had been reduced to a rounding error in Tesla’s sales figures. Musk was direct about what comes next, stating “We are going to convert that production space to an Optimus factory. It’s part of our overall shift to an autonomous future.”
Elon Musk’s $10 Trillion robot: Inside Tesla’s push to mass produce Optimus
That shift is already underway. Tesla officially started Optimus Gen 3 production at its Fremont factory in January 2026, with the line targeting a run rate of one million units per year. The Gen 3 robot features 22 degrees of freedom per hand, runs on Tesla’s AI5 chip, and shares the same neural network architecture as Full Self-Driving. A dedicated Optimus factory at Gigafactory Texas is also under construction, with a planned annual capacity of 10 million units. The production lines that once built the Model S and Model X are being converted to support that ramp.
Tesla confirmed it will continue to support existing owners with service, software updates, and parts for as long as people own the vehicles. For buyers still interested in a new example, remaining U.S. inventory is discounted and the window is closing fast.
Tesla removes Model S and X custom orders as sunset officially begins
SpaceX files confidentially for IPO that will rewrite the record books
Elon Musk hints at “official ceremony” with throwback photo to close Tesla Model S, Model X chapter
Elon Musk says Tesla is developing a new vehicle: ‘Way cooler than a minivan’
Elon Musk launches TERAFAB: The $25B Tesla-SpaceXAI chip factory that will rewire the AI industry
