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SpaceX CEO Elon Musk kills mini BFR spaceship 12 days after announcing it
Less than two weeks after SpaceX CEO Elon Musk announced that Falcon 9’s “second stage [would] be upgraded…like a mini-BFR Ship” to prove lightweight heatshield and hypersonic control surface technologies, Musk took to Twitter to assert that the mini BFR spaceship project was dead, despite having stated that SpaceX was working to launch that test article into orbit as early as June 2019 just 12 days prior.
From a public perspective, the status of SpaceX’s next-gen rocket program (known as BFR) is effectively up in the air after several cryptic and seemingly contradictory statements from the company’s CEO and chief engineer.
No, we’re just going to accelerate BFR
— Elon Musk (@elonmusk) November 20, 2018
On Nov. 17, Musk tweeted that BFR – last updated in September 2018 alongside a statement that “this is [likely] the the final iteration [of BFR] in terms of broad architectural decisions” – had already been redesigned, going so far as to describe it as a “radical change”. What that radical design change might be is almost entirely unclear, although Musk has now twice stated that the purpose of these changes (and the whiplash-inducing cancellation of the mini-spaceship) is to “accelerate BFR”.
Radical change
— Elon Musk (@elonmusk) November 17, 2018
As of now, SpaceX appears to have just completed a massive 9-meter diameter composite tank dome in the company’s temporary Port of Los Angeles tent, where a small but growing team of engineers and technicians are working to realize some version of the company’s next-generation rocket. That group has been working in near-silence for the better part of a year and has accepted delivery of and set up a wide range of custom-built tooling for carbon composite fabrication, and has even managed to get that tooling producing massive composite parts that are expected to eventually make up the structure of a spaceship prototype.
That prototype would eventually be shipped to South Texas, where SpaceX is constructing an entirely new facility from scratch to test the design, technology, and operation of the first full-scale BFR spaceship (BFS). As of a few months ago, the plan was to begin those hop tests before the end of 2019, but it’s no longer clear if SpaceX still intends to build a prototype spaceship to conduct hops and high-speed, high-altitude test flights.
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- BFR’s spaceship design, as of 2018. (SpaceX)
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- A BFS attempts a Mars landing in this official updated render. (SpaceX)
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- SpaceX’s huge Port of LA-based BFR tent, September 18th. (Pauline Acalin)
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- SpaceX’s first BFR spaceship prototype is coming together piece by piece. (SpaceX/Pauline Acalin)
Responsibly building giant rockets
One can only hope that the SpaceX employees tasked with bringing an already monumentally difficult idea from concept to reality are learning about these earth-shaking, “radical” decisions and changes through a medium other than Twitter. If those senior engineers and technicians are not extensively forewarned and given some say in these major system-wide decisions, it’s hard to exaggerate the amount of time, effort, and resources potentially being wasted (or at least misdirected).
There is undoubtedly something to be said for getting complex and difficult things as right as possible on the first serious try, especially when the sheer expense of the task at hand might mean that there is only one real chance to try. Still, it’s not particularly encouraging when a three-year-old hardware development program marked by several major design iterations is still experiencing anything close to “radical change”. After multiple years of concerted effort, BFR still appears to be in some sort of design limbo, where a constant and haphazard stream of on-paper changes act as a near-insurmountable hurdle standing in the way of a completed “good enough” blueprint that can begin to be made real.
Ultimately, even if some of the worst-case scenarios described above turn out to be true, there are still many, many reasons to remain positive about SpaceX’s BFR program on the whole. The next-gen rocket’s propulsion system of choice – an advanced engine known as Raptor – is quite mature at this point and may already be nearing initial flight readiness. Regardless of any future changes to BFR’s overall spaceship and booster structures, SpaceX technicians, engineers, and material scientists have likely gained invaluable experience in pursuit of an unprecedented 9-meter diameter rocket built almost entirely out of carbon fiber composites.
Further, it appears that quite a bit of progress has been made over the course of R&D programs related to methane-oxygen RCS thrusters (Falcon uses nitrogen), autogenous tank pressurization with gaseous methane and oxygen (Falcon uses helium), and perhaps even in-situ resource utilization (ISRU) that will be an absolute necessity to generate water, oxygen, and methane that will keep prospective Mars colonists alive and refuel spaceships for the voyage back to Earth.
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- SpaceX’s horizontal Raptor test stand is pictured here in April 2018. A prototype Raptor can be seen in the center bay. (Aero Photo/Teslarati)
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- A new rocket test-stand takes shape at SpaceX’s McGregor, TX facilities. As of just a few months ago, this site was effectively barren of activity. (April 17, Aero Photo)
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- SpaceX’s Boca Chica facilities now sport two massive propellant tanks, meant to support BFR spaceship hop tests. (NSF /u/ bocachicagal, SpaceX)
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Elon Musk
SpaceX (SPCX) IPO is live today at $135: Here’s exactly what you need to know
SpaceX priced its historic IPO at $135 per share today, raising a record $75 billion.
SpaceX officially priced its initial public offering at $135 per share, offering 555,555,555 shares of Class A common stock and raising $75 billion in what is the largest IPO in stock market history. Shares are set to begin trading on the Nasdaq Global Select Market on Friday, June 12, under the ticker symbol SPCX. The previous record holder was Saudi Aramco’s 2019 offering at $29 billion, followed by Alibaba’s $22 billion offering in 2014.
At $135 per share and roughly 555.6 million shares, the implied valuation sits near $1.75 trillion, which would make SpaceX roughly the seventh largest company in the United States, just above Tesla’s current market cap. Regular investors can request shares at the IPO price through Robinhood, Fidelity, Charles Schwab, SoFi, and E*TRADE, though the deal is heavily oversubscribed and most retail allocations will be partial or unfilled. Once trading opens June 12, anyone with a brokerage account can buy SPCX on the open market.
SpaceX’s amended S-1 is sparking a major Tesla merger conversation
The valuation is anchored primarily by Starlink. Starlink crossed 10 million subscribers as of February 2026 and is adding 750,000 to 1.5 million new users per month, with the connectivity segment already posting a $1.19 billion profit last quarter. The offering also bundles in xAI following SpaceX’s all-stock merger earlier this year, adding Grok and the Colossus supercomputer to the investment thesis. As Teslarati reported, Starlink ended 2025 with $10 billion in revenue, a figure analysts project could reach $24 billion by end of 2026.
Wedbush analyst Dan Ives has been vocal in his support. “I think the time is right,” Ives said, adding that the offering expands the Elon Musk ecosystem rather than competing with Tesla. An average 12-month price target of $165 per share represents roughly 22% upside from the IPO price. Not everyone agrees – Motley Fool noted xAI is spending $1 billion per month playing catch-up to OpenAI and Anthropic.
Musk founded SpaceX in 2002 with a single stated purpose. “Elon founded SpaceX with a goal to change humanity, to make us a multi-planet species,” CFO Bret Johnsen said in the company’s retail roadshow video this week. Musk himself has been more direct: “We are building the systems and technologies necessary to provide global connectivity on Earth and beyond, to understand the true nature of the universe, and to extend the light of consciousness to the stars.”
Investor's Corner
Tesla unfolded its first European “folding Supercharger”
Tesla’s folding Supercharger just arrived in Europe and it changes how fast charging expands.
Tesla’s Folding Unit Supercharger has officially landed in Europe, with the company teasing a new installation in its effort for a broader rollout targeting major motorway rest stops across the European continent in Q3 2026. The arrival marks a notable shift in how Tesla is thinking about network expansion, moving from hardware performance alone to engineering the logistics chain itself.
While Tesla did not reveal the exact location for the new folding Supercharger in Europe, the photo shared on X heavily suggests that this maybe somewhere in Norway. Historically, whenever Tesla rolls out an entirely new infrastructure architecture in Europe, whether it was the original Supercharger stalls years ago or these brand-new modular V4 “Folding Units”, Norway is almost always the designated launch pad because of its unmatched EV adoption rate and supportive infrastructure
The Folding Unit, introduced in March 2026, is a factory pre-assembled V4 charging station built on an industrial hinge system mounted to a heavy-duty concrete base. The entire assembly arrives on site ready to unfold and connect. Tesla confirmed the units feature telescopic light poles specifically designed for easy transportation and fast on-site deployment, a detail that signals how carefully the logistics chain has been engineered alongside the hardware itself. The design allows 33% more stalls per delivery truck, cuts installation time roughly in half, and reduces overall deployment costs by more than 20% compared to traditional installations.
Tesla’s newest “Folding V4 Superchargers” are key to its most aggressive expansion yet
Tesla also noted telescopic light poles which provide benefits over traditional Supercharger installations that require fixed-height poles that are awkward to ship, slow to position on site, and often require separate crews and equipment to erect before charging hardware can even be staged. By engineering poles that compress for transit and extend on arrival, Tesla has removed one of the quieter bottlenecks in the physical deployment process. Every hour saved on a light pole installation is an hour redirected toward getting stalls energized. At scale, across dozens of new sites per quarter, those hours add up to a meaningful acceleration in how quickly a location goes from approved permit to serving its first customer.
Each Folding Unit pairs a single V4 power cabinet with eight charging posts. The V4 cabinet delivers up to 500 kW per stall for passenger vehicles and up to 1.2 MW for the Tesla Semi, supporting twice the stalls per cabinet at three times the power density of its predecessor. Longer cables make every new station immediately usable by non-Tesla vehicles, a priority as Tesla continues opening its network to Ford, GM, Rivian, Hyundai, Stellantis, and others.
As Teslarati reported when the Folding Unit was first unveiled, Tesla’s Gigafactory New York produced its final V3 Supercharger cabinet in March 2026 after more than seven years and 15,000 units, completing a full pivot to V4 production. The European arrival of the folding design is the next chapter in that transition.
Faster and cheaper deployment means Tesla can justify building in markets and corridors that were previously too expensive to serve, filling the coverage gaps that have slowed EV adoption outside major urban centers.
First Folding Unit Superchargers in Europe 🇪🇺 https://t.co/KNfYWJukkL pic.twitter.com/YR1udIpH1i
— Tesla Charging (@TeslaCharging) June 10, 2026
Tesla has stunned by gaining yet another approval for its Full Self-Driving suite in Europe, its second in two days and its fifth overall.
Belgium will be the latest country to allow Tesla owners to utilize FSD on public roads in Europe, joining a quickly growing list that started with the Netherlands, Lithuania, and Estonia.
On Tuesday, Denmark announced its approval of the FSD suite, which has now been followed by Belgium just one day later.
The country’s Minister of Mobility, Annick De Ridder, announced the approval on her X account, stating that she had just signed the approval of Tesla FSD. It now goes to the country’s homologation department for the last step of the approval process.
De @Tesla community houdt hier al geruime tijd de vinger aan de pols over de toelating voor de FSD-technologie op onze Vlaamse en Belgische wegen.
Uit waardering voor jullie niet-aflatende interesse (en aanmoediging 😉), krijgen jullie hierbij de primeur: ik heb net de toelating… pic.twitter.com/Yrps4OHTj8— Annick De Ridder (@AnnickDeRidder) June 10, 2026
The Belgian approval is one of mighty importance because it truly shows how quickly countries in Europe could greenlight the FSD suite consecutively. Approvals are already coming in relatively quickly, which is a great sign.
Perhaps the next big development that could come from FSD approvals in Europe is an approval from a country like England, Italy, France, Spain, or Germany. It would be something to see how FSD would perform in a major European metro, such as London, Barcelona, Madrid, Paris, Rome, or Berlin.
Getting Full Self-Driving in Spain and England will be such huge milestones for Tesla. I am so excited to see how FSD performs in Madrid, Barcelona, and London, specifically.
The ultimate test will always be Mumbai or New Delhi. Excited for India’s eventual approval! https://t.co/paw9Ch1qmL pic.twitter.com/9RdDERVSSJ
— TESLARATI (@Teslarati) June 9, 2026
Full Self-Driving does an excellent job of roaming around major U.S. cities like New York and Los Angeles, but other high-profile international cities of significance would truly mark a line in the sand for Tesla, which can simply enable any vehicle in its customer-owned fleet to run FSD with the correct approvals.
SpaceX (SPCX) IPO is live today at $135: Here’s exactly what you need to know
Tesla unfolded its first European “folding Supercharger”
