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SpaceX CEO Elon Musk lays out Starship’s path to orbit with sights set on 2020 debut
Speaking on September 28th, SpaceX CEO Elon Musk sketched out a fairly detailed picture of Starship’s path to orbit, from the first flight of the first full-scale prototype to the spacecraft’s inaugural orbital launch atop a Super Heavy booster.
Incredibly, Musk was persistent with claims that he has challenged SpaceX’s Starship teams to conduct the next-generation rocket’s first orbital launch within six months, drawing a line in the sand around April 1st, 2020 (?). How, then, does the SpaceX CEO foresee the next year or so playing out?
A whole lotta ‘Ships
As is the company’s signature, Musk confirmed that the Starship development program will continue to be highly distributed, hardware-rich, and focused on an iterative and continuous process of learning by doing. Starhopper is perhaps the best emblem of this methodology, defying almost every conceivable aerospace industry norm to successfully build and repeatedly fly what was essentially a rocket built outside by water tower welders.
Starhopper may have scarcely been meant to fly at all, serving almost entirely as a proof of concept and learning experience, but Musk strongly suggested that future Starship prototypes will replicate its highly iterative, learning-on-the-job approach to development. In short, much like SpaceX has nearly completed Starship Mk1 (and Mk2) from scratch in less than six months, SpaceX’s development strategy involves building a lot of Starship prototypes as quickly as possible.
Specifically, Elon Musk stated – in his opinion – that SpaceX will likely attempt its first orbital Starship-Super Heavy launch immediately after Starship Mk1’s first flight attempt, a suborbital launch to ~20 km (12.5 mi). Assuming that test – far more critical than any of Starhopper’s travails – is successful, the very next Starship flight could be an orbital launch attempt.
First and foremost, Musk was pretty clear that the rough schedule he laid out was a “stream of consciousness”. Indeed, the eccentric CEO contradicted (or updated) himself over the course of answering the same question, stating that “[SpaceX] would fly to orbit with [Starship] Mk3” before saying that that it would actually be “Mk4 or Mk5”. Musk is still undoubtedly set on announcing gobsmackingly ambitious schedules for his projects, but it’s worth noting just how serious he seemed while discussing Starship’s development timeline.
He noted that SpaceX will likely “have [Starship] Mk2 built within a couple of months – or less”, referring to the second prototype currently in the late stages of integration at the company’s similar Cocoa, FL facilities. Additionally, Musk indicated that Starship Mk3 – yet to begin construction in Boca Chica – could be finished as few three months from now (around the start of 2020), with Starship Mk4 – to be built in Florida – could be just one to two months behind (NET Feb/March 2020). Correcting his previous statement, whether intentional or not, Musk also added that SpaceX’s first orbital Starship launch attempt would likely involve either the Mk4 or Mk5 prototype and occur “less than six months from now”.
As a slight consolation to the eyewateringly ambitious timeline he laid out, Musk qualified his “six months to orbit” target by acknowledging that it would only be achievable “provided the rate of design and manufacturing improvement continues to be exponential”. If that remains the case, as he believes it has been over the last six or so months, then SpaceX could be ready for the first orbital Starship launch attempt as few as 6-9 months from now – sometime in the first half of 2020.
A lot will undoubtedly have to go very right for that to remain anywhere within the realm of plausibility. This includes the rapid maturation of Starship’s Raptor engine and vacuum-optimized variant, the successful completion of Starship Mk1’s 20km flight test, the assembly and static fire of the first Super Heavy booster(s), the construction of brand new orbital launch facilities, and the FAA’s approval of all aforementioned flight operations.
Needless to say, the odds are heavily stacked against Musk’s goal of reaching orbit within six months. There is undoubtedly a chance that SpaceX can pull it off, even if success would essentially involve constructing a bridge while driving off a cliff. However, the most important thing to note is that even if Elon Musk is a factor of 1.5, 2, 3, or even 4 times off and Starship reaches orbit for the first time 12 or 18 or 24 months from now, it will still have been an incredibly brisk period of development for a rocket as large, high-performance, and ambitious as Starship/Super Heavy.
It should also be made clear that, while it’s utterly beyond the present capabilities of NASA and other space agencies/companies of the 21st century, Saturn V went from paper to its first orbital launch in just five years. Depending on how one perceives Starship development, it could be said that SpaceX began development – particularly marked by Raptor engine prototype testing – as early as 2016. Suffice it to say that it’s far from impossible that Starship’s first orbital launch will happen next year, even if the challenges SpaceX faces are immense.
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Elon Musk
Tesla CEO Elon Musk drops massive bomb about Cybercab
“And there is so much to this car that is not obvious on the surface,” Musk said.
Tesla CEO Elon Musk dropped a massive bomb about the Cybercab, which is the company’s fully autonomous ride-hailing vehicle that will enter production later this year.
The Cybercab was unveiled back in October 2024 at the company’s “We, Robot” event in Los Angeles, and is among the major catalysts for the company’s growth in the coming years. It is expected to push Tesla into a major growth phase, especially as the automaker is transitioning into more of an AI and Robotics company than anything else.
The Cybercab will enable completely autonomous ride-hailing for Tesla, and although its other vehicles will also be capable of this technology, the Cybercab is slightly different. It will have no steering wheel or pedals, and will allow two occupants to travel from Point A to Point B with zero responsibilities within the car.
Tesla shares epic 2025 recap video, confirms start of Cybercab production
Details on the Cybercab are pretty face value at this point: we know Tesla is enabling 1-2 passengers to ride in it at a time, and this strategy was based on statistics that show most ride-hailing trips have no more than two occupants. It will also have in-vehicle entertainment options accessible from the center touchscreen.
It will also have wireless charging capabilities, which were displayed at “We, Robot,” and there could be more features that will be highly beneficial to riders, offering a full-fledged autonomous experience.
Musk dropped a big hint that there is much more to the Cybercab than what we know, as a post on X said that “there is so much to this car that is not obvious on the surface.”
And there is so much to this car that is not obvious on the surface
— Elon Musk (@elonmusk) January 2, 2026
As the Cybercab is expected to enter production later this year, Tesla is surely going to include a handful of things they have not yet revealed to the public.
Musk seems to be indicating that some of the features will make it even more groundbreaking, and the idea is to enable a truly autonomous experience from start to finish for riders. Everything from climate control to emergency systems, and more, should be included with the car.
It seems more likely than not that Tesla will make the Cybercab its smartest vehicle so far, as if its current lineup is not already extremely intelligent, user-friendly, and intuitive.
Investor's Corner
Tesla Q4 delivery numbers are better than they initially look: analyst
The Deepwater Asset Management Managing Partner shared his thoughts in a post on his website.
Longtime Tesla analyst and Deepwater Asset Management Managing Partner Gene Munster has shared his insights on Tesla’s Q4 2025 deliveries. As per the analyst, Tesla’s numbers are actually better than they first appear.
Munster shared his thoughts in a post on his website.
Normalized December Deliveries
Munster noted that Tesla delivered 418k vehicles in the fourth quarter of 2025, slightly below Street expectations of 420k but above the whisper number of 415k. Tesla’s reported 16% year-over-year decline, compared to +7% in September, is largely distorted by the timing of the tax credit expiration, which pulled forward demand.
“Taking a step back, we believe September deliveries pulled forward approximately 55k units that would have otherwise occurred in December or March. For simplicity, we assume the entire pull-forward impacted the December quarter. Under this assumption, September growth would have been down ~5% absent the 55k pull-forward, a Deepwater estimate tied to the credit’s expiration.
“For December deliveries to have declined ~5% year over year would imply total deliveries of roughly 470k. Subtracting the 55k units pulled into September results in an implied December delivery figure of approximately 415k. The reported 418k suggests that, when normalizing for the tax credit timing, quarter-over-quarter growth has been consistently down ~5%. Importantly, this ~5% decline represents an improvement from the ~13% declines seen in both the March and June 2025 quarters.“
Tesla’s United States market share
Munster also estimated that Q4 as a whole might very well show a notable improvement in Tesla’s market share in the United States.
“Over the past couple of years, based on data from Cox Automotive, Tesla has been losing U.S. EV market share, declining to just under 50%. Based on data for October and November, Cox estimates that total U.S. EV sales were down approximately 35%, compared to Tesla’s just reported down 16% for the full quarter. For the first two months of the quarter, Cox reported Tesla market share of roughly a 65% share, up from under 50% in the September quarter.
“While this data excludes December, the quarter as a whole is likely to show a material improvement in Tesla’s U.S. EV market share.“
Elon Musk
Tesla analyst breaks down delivery report: ‘A step in the right direction’
“This will be viewed as better than feared deliveries and a step in the right direction for the Tesla story heading into 2026,” Ives wrote.
Tesla analyst Dan Ives of Wedbush released a new note on Friday morning just after the company released production and delivery figures for Q4 and the full year of 2025, stating that the numbers, while slightly underwhelming, are “better than feared” and as “a step in the right direction.”
Tesla reported production of 434,358 and deliveries of 418,227 for the fourth quarter, while 1,654,667 vehicles were produced and 1,636,129 cars were delivered for the full year.
Tesla releases Q4 and FY 2025 vehicle delivery and production report
Interestingly, the company posted its own consensus figures that were compiled from various firms on its website a few days ago, where expectations were set at 1,640,752 cars for the year. Tesla fell about 4,000 units short of that. One of the areas where Tesla excelled was energy deployments, which totaled 46.7 GWh for the year.
🚨 Wedbush’s Dan Ives has released a new note on Tesla $TSLA:
“Tesla announced its FY4Q25 delivery numbers this morning coming in at 418.2k vehicles slightly below the company’s consensus delivery estimate of 422.9k but much better than the whisper numbers of ~410k as the…
— TESLARATI (@Teslarati) January 2, 2026
In terms of vehicle deliveries, Ives writes that Tesla certainly has some things to work through if it wants to return to growth in that aspect, especially with the loss of the $7,500 tax credit in the U.S. and “continuous headwinds” for the company in Europe.
However, Ives also believes that, given the delivery numbers, which were on par with expectations, Tesla is positioned well for a strong 2026, especially with its AI focus, Robotaxi and Cybercab development, and energy:
“This will be viewed as better than feared deliveries and a step in the right direction for the Tesla story heading into 2026. We look forward to hearing more at the company’s 4Q25 call on January 28th. AI Valuation – The Focus Throughout 2026. We believe Tesla could reach a $2 trillion market cap over the coming year and, in a bull case scenario, $3 trillion by the end of 2026…as full-scale volume production begins with the autonomous and robotics roadmap…The company has started to test the all-important Cybercab in Austin over the past few weeks, which is an incremental step towards launching in 2026 with important volume production of Cybercabs starting in April/May, which remains the golden goose in unlocking TSLA’s AI valuation.”
It’s no secret that for the past several years, Tesla’s vehicle delivery numbers have been the main focus of investors and analysts have looked at them as an indicator of company health to a certain extent. The problem with that narrative in 2025 and 2026 is that Tesla is now focusing more on the deployment of Full Self-Driving, its Optimus project, AI development, and Cybercab.
While vehicle deliveries still hold importance, it is more crucial to note that Tesla’s overall environment as a business relies on much more than just how many cars are purchased. That metric, to a certain extent, is fading in importance in the grand scheme of things, but it will never totally disappear.
Ives and Wedbush maintained their $600 price target and an ‘Outperform’ rating on the stock.
Tesla CEO Elon Musk drops massive bomb about Cybercab
Tesla Q4 delivery numbers are better than they initially look: analyst
