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Rocket Lab to debut second New Zealand launch pad with first launch of 2022
Rocket Lab, a California-based aerospace company, recently announced the completion of a second launch pad at its primary New Zealand launch facilities.
In a last-minute change, Pad B (LC-1B), whose completion was announced on February 23rd, is scheduled to host both its first mission and Rocket Lab’s first Electron launch of 2022 no earlier than (NET) February 28th. The new pad is now the second to be constructed at Launch Complex 1 (LC-1), an exceptionally remote site located at the tip of northern New Zealand’s Mahia Peninsula. Aside from being the world’s first fully private orbital launch site, LC-1B’s completion makes it the third launch site built by Rocket Lab, including a yet unused pad at NASA’s Wallops Flight Facility on the East coast of Virginia. All three locations are exclusively designed to support the company’s small Electron rocket.
With the addition of Pad B, Rocket Lab hopes to drastically increase its launch cadence. Rocket Lab founder and CEO Peter Beck says that the company’s “ ability to launch and our launch cadence is essentially doubled by having an additional pad” at LC-1. What once started as an empty green field on the peninsula of New Zealand has grown into two orbital launch pads, private range control facilities, three satellite cleanrooms, a launch vehicle assembly hangar that can process multiple Electrons for launch at once, and administrative offices.
The update that's rolling out to the fleet makes full use of the front and rear steering travel to minimize turning circle. In this case a reduction of 1.6 feet just over the air— Wes (@wmorrill3) April 16, 2024
With three launch pads, two in the southern hemisphere and one in the northern, Rocket Lab provides their customer with plenty of options. “A reliable launch vehicle is only one part of the puzzle to unlocking space access – operating multiple launch sites so we can launch when and where our customers need to is another crucial factor. We are proud to be delivering responsive space access for our customers, making back-to-back missions possible within hours or days, not weeks or months”, stated Beck. It should be noted that Rocket Lab has yet to launch from NASA’s Wallops Flight Facility in Virginia due to delays in a NASA-provided component required for US Electron operations.
The Electron Rocket has launched 23 times to date, 20 of which were successful. The launch vehicle stands about 59 feet (18m) tall and is designed to mainly carry small satellites into Low Earth Orbit (LEO). Electron’s next launch, scheduled NET 3:35 pm EST (20:35 UTC) on February 28th, will be its 24th. Nicknamed “The Owl’s Night Continues,” Electron will carry a ‘Strix’ Earth observation satellite for the Japanese company Synspective. Rocket Lab successfully launched its first Strix satellite in December 2020.
Originally, Rocket Lab’s 24th launch was scheduled to carry a batch of two more BlackSky Earth-imaging satellites into orbit as early as February 4th, 2022, but the customer requested additional time for unknown reasons. In response, Rocket Lab managed to not only finish a new launch pad but also assembled a new Electron rocket to launch a different customer’s payload from the same pad with only a few weeks of delays.
Vice President Shaun D’Mello stated that he is proud of his team’s ability to build and bring a second pad online while simultaneously servicing and operating Pad A. Aside from a few recent launch failures, the company has made good progress over the last few years and doesn’t seem to be slowing down any time soon. Aside from consistently launching private customer payloads into orbit, Rocket Lab – seemingly baring fruit from a spate of recent acquisitions – was also recently awarded a substantial $143 million contract to design and manufacture seven spacecraft buses for a new Globalstar constellation in LEO. In comparison, one Electron launch contract brings in about $7-10 million of revenue, meaning that the value of a single satellite manufacturing contract may be about the same as the revenue Rocket Lab has gained from all 23 Electron launches.
“Rocket Lab will lead the development of the spacecraft buses, while MDA will act as prime contractor to manufacture Globalstar’s satellites, lead the development of the payload, and perform the final satellite assembly, integration, and test. The partnership between Rocket Lab and MDA brings together two of the space industry’s most innovative satellite companies. The total initial contract value for Rocket Lab is US$143 million, with options to provide the satellite operations control center, launch dispensers, launch integration, and up to nine additional spacecraft with flexibility in timing to order such spacecraft. The satellites will integrate with and replenish Globalstar’s current constellation, ensuring service continuity. Globalstar expects to launch the satellites by the end of 2025.”
All 17 of the 500-kilogram (1100 lb) spacecraft will be designed and manufactured at Rocket Lab’s Long Beach production complex and headquarters, where a new high-volume spacecraft manufacturing line is being developed to support growing demand for Rocket Lab satellites.
Elon Musk has publicly questioned Moody’s credit assessments following the rating agency’s decision to assign SpaceX a Baa1 investment-grade rating, two notches above Tesla’s Baa3. The comments came amid discussions comparing the two companies’ financial profiles.
SpaceX earned its first-time Baa1 rating with a stable outlook from Moody’s. The agency highlighted the company’s leadership in orbital launches, the growing recurring revenue from its Starlink satellite network, strong vertical integration, U.S. government contracts, and emerging opportunities in AI infrastructure.
These factors were cited as supporting robust cash flows, margin expansion, and financial flexibility.
Musk responded directly: “Tesla’s credit rating is ridiculously low tbh,” and added, “Yeah, makes no sense. Tesla has over $40B in cash, no debt, and is consistently profitable!” His remarks underscored Tesla’s balance sheet strength and profitability at a time when many traditional automakers continue to report losses in the shift to electric vehicles.
Yeah, makes no sense.
Tesla has over $40B in cash, no debt and is consistently profitable!
— Elon Musk (@elonmusk) June 19, 2026
Tesla maintains a leading position in the global EV market, with diversification into energy and storage, battery technology, and robotics through projects like Optimus. Recent financial updates show the company generated positive free cash flow of $1.4 billion in Q1 2026, supported by operating cash flow of $3.9 billion. Cash and short-term investments stood at approximately $44.7 billion.
Moody’s has affirmed Tesla’s Baa3 issuer rating with a stable outlook in periodic reviews, acknowledging the company’s EV leadership, technology strengths, including AI for autonomous vehicles, solid profitability, and strong liquidity.
Tesla (TSLA) scores Baa3 Moody’s rating for ‘stable’ outlook
However, the agency has also noted challenges in the automotive segment and expectations for margin pressures.
Musk’s critique highlights a common debate about how traditional rating methodologies apply to high-growth, capital-intensive technology companies. SpaceX benefits from long-term government-backed contracts and diversified, recurring revenue streams, while Tesla’s valuation reflects heavy investment in future technologies such as autonomy and robotics.
Both ratings remain investment-grade, yet the one-notch difference has fueled online discussion about potential inconsistencies in evaluating innovative firms.
The exchange comes as SpaceX explores financing options following its recent valuation milestones, while Tesla continues executing on its multi-year roadmap. Musk’s pointed response serves as a reminder that credit ratings, though influential for borrowing costs, represent one lens through which markets assess corporate strength—and that company leaders often view their financial positions through the lens of long-term innovation and cash generation rather than short-term risk metrics alone.
A new report from Reuters claims that a transport authority in Sweden is pushing back against the approval of Tesla’s Full Self-Driving suite because it will travel over speed limits.
The report says the Swedish Transport Administration (TRV) recommends the European Union votes against FSD’s approval. TRV believes it should not be approved until Tesla disables FSD’s ability to speed.
TRV sent a letter to the European Union’s Technical Committee on Motor Vehicles (TCMV), which is set to meet on June 30 to discuss the potential approval of the Tesla FSD suite in the country. Tesla, which has received various approvals in Europe over the past two months, has not provided a comment.
Teslas operating on FSD do travel over the speed limit, depending on the Speed Profile that is chosen. Drivers have the ability to disengage FSD at any point; Tesla specifically states that those supervising the suite are responsible for its actions.
Let’s cut to the chase: humans operating any vehicle speed almost daily in the United States. Realistically, speed limits in the U.S. are more frequently treated as speed minimums. However, other countries are different, and driving behaviors are less aggressive.
TRV believes that “allowing automated systems to systematically exceed legal speed limits…risks undermining both the legal framework and the expected safety benefits of vehicle automation,” the report stated. It’s surprising that Tesla has not received this claim from other countries previously.
This could be a good argument to bring Max Speed back, the setting that previously allowed the driver to choose the absolute fastest the car would travel.
This would still put the responsibility of supervision in the hands of the driver. It would allow the driver to choose whether the car would travel over the speed limit or not, acknowledging that they set the speed, and if they get pulled over, there would be no ability to argue it.
However, it does not seem as if this is something Tesla will do, especially considering many U.S. drivers have requested the feature in an effort to eliminate speeding or at least tone it down. The company has not shown any interest in bringing it back.
Tesla has approvals for FSD in Europe in Estonia, Lithuania, Denmark, the Netherlands, and Belgium.
Tesla is going to let you guide Full Self-Driving with Grok in 3 months, CEO Elon Musk confirmed on X.
The response from Musk, which revealed Tesla plans to allow drivers to effectively control the car and its navigation more explicitly using Grok, puts the feature for about September.
A Tesla owner said that Full Self-Driving is great, but owners should be able to “converse with Grok like we can with an Uber driver.” She then used examples like, “Grok, turn right here,” and “Drop us off right here, we’ll walk due to traffic,” and finally,” Drop at entrance first, then park far away.”
Coincidentally, the final piece of dialogue would also mean features like Banish are potentially on the way soon.
This functionality will be there in about 3 months or so
— Elon Musk (@elonmusk) June 18, 2026
Banish is also referred to as “Reverse Summon,” and would enable the car to self-park while dropping occupants off at their destination.
This would be a great way to improve the overall experience while supervising FSD. Navigation is already a major painpoint that many owners complain about. Manual overrides when a maneuver is requested or canceled (like using the turn signal stalk to override a navigation route), do not always work.
The feature could be especially useful in street parking scenarios in a city, where spots are sometimes tough to come by. Many of us who grab dinner in a more populated area will park a street or two over from wherever we’re going, because sometimes you know that’s the best you will get. If a driver using FSD could say, “Hey Grok, turn right here on Queen St. and park in that open spot on the right,” it could save a lot of confusion FSD might have on its own.
Musk teased that a similar feature was “coming” back in February:
Tesla Full Self-Driving set to get an awesome new feature, Elon Musk says
It is certainly surprising that Tesla is doing it at this point. The company’s more recent moves have been more evident of taking control and inputs away from humans and putting them in the AI’s hands more frequently. The biggest example of this was taking away Max Speed in AI4 cars, giving us Speed Profiles, and not having any input on the fastest speed the car will travel.
Of course, giving navigation preferences to Grok is availble already in Teslas, but not at the drop of a hat. Instead, you can suggest a certain route at the beginning of your drive.
Here’s an example of that from December:
🚨🏈 I am taking my parents and Fiancee to the @Ravens game next weekend and asked @Grok to help me route my @Tesla through a specific neighborhood to reach the correct Lot we will park in.
This is a great example of the new @grok nav integration with the Tesla Holiday Update: pic.twitter.com/rPp4I7q8Yv
— TESLARATI (@Teslarati) December 13, 2025
Finally, the original post that Musk responded to mentioned a parking preference after dropping off the occupants, which describes the Banish feature that Tesla has teased for years.
We’re not sure if Musk was responding more to the ability to guide the car with Grok, or whether he also was including Banish in the three-month prediction timeframe.
Elon Musk challenges Tesla credit rating from Moody’s after SpaceX gets a higher one
Tesla faces Full Self-Driving pushback in EU over ‘speeding’
