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SpaceX, NASA moving forward with plans to build second Dragon launch pad
SpaceX and NASA officials have confirmed that they are moving forward with plans to modify the company’s second Florida launch pad to support Crew and Cargo Dragon missions.
First reported by Reuters in June 2022, SpaceX began studying the possibility of modifying its Cape Canaveral Space Force Station (CCSFS) LC-40 pad for Dragon missions earlier this year after NASA raised concerns about the risks posed by plans to operate its next-generation Starship rocket out of the only pad available for Dragon. Three months later, the partners have committed to that plan and, according to SpaceX, hardware for the required modifications is already in work.
After a false-start in 2019 and 2020, SpaceX began rapidly constructing Starship’s first Florida launch site at the LC-39A pad it leases from NASA’s Kennedy Space Center (KSC) earlier this year. Thanks to a series of modifications and additions to existing Space Shuttle infrastructure, Pad 39A is also the only site currently capable of launching Crew and Cargo Dragon spacecraft on Falcon 9 rockets. Located just 1000 feet (~300 m) east of 39A’s existing Falcon and Dragon launch facilities and access tower, Starship is unlikely to have much of an impact during nominal operations, but the program does have a history of building prototypes that occasionally explode.
Until late 2023 at the absolute earliest, SpaceX’s Crew Dragon is the only spacecraft capable of sustaining NASA’s presence (typically 4-5 astronauts) at the International Space Station (ISS). Years behind schedule, Boeing’s Starliner crew capsule is scheduled to attempt its first crewed test flight (CTF) no sooner than February 2023. Starliner’s first operational astronaut transport mission could then follow in September 2023, but it could easily slip into 2024 if the CTF is less than flawless. To date, both of Starliner’s uncrewed test flights have uncovered significant issues that required months of additional work to rectify.
When a Falcon 9 rocket exploded at LC-40 in 2016, causing damage that effectively required a total rebuild, it took SpaceX 15 months to resurrect the pad. In other words, if a Starship launch failed and destroyed Pad 39A’s Falcon and Dragon facilities at some point within the next 12-18 months, it could easily threaten NASA’s ability to maintain the ISS if Boeing was unable to take over.
Even though SpaceX would never risk launching Starship out of Pad 39A if it knew there was a high risk of the new rocket failing and harming Dragon operations, NASA is in the business of ensuring that contingencies exist in case of unlikely but catastrophic events. It doesn’t matter if Starship probably won’t explode or if Starliner will probably be ready to take over. The risk is always there and SpaceX and NASA must be ready for the possibility.
Nothing is known about the nature of the modifications that LC-40 will require. But more likely than not, NASA will require SpaceX to develop something similar to Pad 39A’s facilities. That would involve building a new crew access tower, crew access arm, escape system (39A uses baskets and ziplines), and an on-site bunker for astronauts.
Given that the need for a backup Dragon launch pad comes largely at NASA’s behest, there’s a good chance that the agency will require that that backup be in place before SpaceX will be allowed to launch Starship out of Pad 39A. Earlier this month, CEO Elon Musk delayed his estimate for the first Florida Starship launch from late 2022 to Q2 2023. It’s highly unlikely that SpaceX will be able to finish modifying LC-40 by Q2 2023.
SpaceX will have to undertake the already challenging, time-sensitive construction project on a high-security military base and well within the blast radius of the single most active launch pad in the world. Much of the custom hardware required could have significant lead times, further extending the construction timeline. Unless SpaceX is willing to seriously constrain LC-40’s launch cadence, which would likely make its goals of 60+ launches in 2022 and up to 100 Falcon launches in 2023 impossible, the work will take even longer than it would under ordinary circumstances.
In the world of autonomous ride-hailing, there are only a handful of names. Among those few companies lies a strategy play by each to keep the opposition on their toes. Tesla, on the other hand, already tipped its hand at where it is headed next.
Tesla has signaled its next major push in the autonomous ride-hailing market by filing for an Autonomous Vehicle Network Company permit in Nevada (Docket 26-05015). Through Tesla Robotaxi, LLC, the company seeks approval to operate up to 5,000 robotaxis in Clark County, including high-traffic areas like Las Vegas and Henderson airports, within the first 12 months of launch.
This filing builds on Tesla’s earlier testing approvals from the Nevada DMV in September 2025 and preparations such as maintenance hubs in the Las Vegas area. Nevada represents a strategic expansion into a major tourist destination, where high visitor volumes could drive strong utilization and showcase the reliability of unsupervised autonomy to a broad audience.
We’d have to assume this means Tesla is targeting Las Vegas, and it’s a great move from a business perspective.
Vegas is such a melting pot of people from all around the country and the world. It will expose people from all corners of the globe to Tesla’s autonomy capabilities https://t.co/Qz3fQmhULF pic.twitter.com/Du5pj2RyWC
— TESLARATI (@Teslarati) June 6, 2026
Approval would mark a significant step toward commercial operations in a new state, following progress in Texas.
Tesla’s shareholder decks and earnings calls have clearly outlined these ambitions. In the Q4 2025 shareholder deck, the company listed planned Robotaxi coverage for the first half of 2026, explicitly naming Las Vegas alongside Phoenix, Miami, Orlando, and Tampa, with Dallas and Houston already advancing. Austin was noted as “ramping unsupervised,” while the Bay Area remained in safety-driver mode.
By Q1 2026, the deck updated statuses to reflect launches in Dallas and Houston, with “preparations underway” for the remaining cities, including Las Vegas. Paid Robotaxi miles nearly doubled sequentially in Q1, underscoring momentum even as broader timelines adjusted slightly for regulatory and operational readiness.
On earnings calls, CEO Elon Musk and executives have emphasized a phased rollout prioritizing safety. Unsupervised operations in Texas have shown strong results with no reported accidents or injuries in the program. Tesla continues groundwork in additional major U.S. metros through testing and permitting, positioning it to scale quickly once approvals clear.
This Nevada move aligns with Tesla’s vision of transforming from an EV maker into an AI and robotics leader. The forthcoming Cybercab, which started production at Giga Texas in April, is expected to eventually dominate the fleet, replacing many Model Y vehicles and driving down costs to enable affordable rides.
For investors and the industry, this signals Tesla’s intent to dominate key Sun Belt and tourist markets where weather, regulations, and demand favor rapid scaling. Success in Las Vegas could validate the model for denser urban and high-tourism environments, accelerating the shift toward a future where robotaxis generate meaningful revenue.
Las Vegas will also expand knowledge among the general public at Tesla’s capabilities, helping people experience driverless ride-hailing from several companies during their time on The Strip.
The Tesla Model 3’s cheapest trim level just got a major accolade, as Edmunds just revealed the Rear-Wheel-Drive trim of the all-electric sedan is the most efficient EV that is currently in production.
The 2026 Tesla Model 3 Rear-Wheel-Drive not only beat its EPA-estimated range by 30 miles, but it also bested its efficiency mark by 13.2 percent. The Model 3 tested by Edmunds traveled 393 miles, beating its EPA rating by 8.3 percent, while it returned 21.7 kWh per 100 miles, or 4.61 mi/kWh.
Beating those two metrics is especially pertinent when it comes to EV ownership and driving down the cost of ownership from ICE counterparts across the board. The real money savings come from driving down the cost of driving per mile, especially when it comes to high-mileage driving.
Edmunds stated in its report and review that the process it uses to test EV efficiency is aimed at giving “the most accurate representation of a car’s real-world range.” The assessment uses a strict route that features 60 percent city and 40 percent highway driving, and an average speed of 40 MPH across the trip.
It also drives each car within 5 MPH of all posted speed limits, and the climate control is set on Auto at 72 degrees to ensure even testing. In other words, Edmunds does not use methods to maximize efficiency, and instead tries to make it reasonable to achieve the same ratings yourself.
In comparison to other EVs, it beat the 2026 Mercedes-Benz CLA 350, which went 385 miles, as well as the 2026 Audi A6 Sportback E-tron Prestige AWD, which traveled 392 miles. Only the Mercedes-Benz CLA 250+ traveled farther, making it an impressive 434 miles on a charge.
However, the Tesla Model 3 RWD’s efficiency is “unmatched” because of its incredibly low energy usage per mile.
🚨 Tesla Model 3 RWD:
-At $36,990, it is $9,000 cheaper than the average transaction price for a new car ($46,023 via KBB)
-Was 13.2% more efficient than its EPA estimate
-Traveled 393 miles on a charge despite its 363-mile EPA range https://t.co/Grov2hXqpa pic.twitter.com/Zl8rnZZLIB
— TESLARATI (@Teslarati) June 8, 2026
The Model 3 Rear-Wheel-Drive might be the best bang-for-your-buck EV if you’re looking to buy new and want access to features like Full Self-Driving, while also being aware of efficiency. This trim of the Model 3 is also priced over $9,000 cheaper than what Kelley Blue Book says the average transactional price for a new car was in May 2026, which sits at $46,023.
If you’re looking for something with more speed, an All-Wheel-Drive drivetrain, or more premium features, the Premium trims of the Model 3 currently come with one year of Free Supercharging.
The Ontario Teachers’ Pension Plan (OTPP) stands to reap one of the most extraordinary returns in pension fund history thanks to a bold 2019 investment in SpaceX.
According to a recent report from The Globe and Mail, the Toronto-based fund invested roughly $300 million CAD (~$220 million USD at the time) in Elon Musk’s space company as its inaugural deal through the Teachers’ Innovation Platform.
At SpaceX’s anticipated $1.75 trillion IPO valuation, set for a mid-June debut on Nasdaq under ticker $SPCX, that stake could now be worth up to $11.6 billion USD. This would represent a roughly 50x return and easily become OTPP’s most successful single investment ever.
The fund manages $279 billion in assets for approximately 346,000 working and retired teachers in Ontario, potentially delivering an average boost of around $33,500 per member if fully realized.
SpaceX has filed its S-1 and plans to price shares at $135 each, aiming to raise a record $75 billion in what would be the largest IPO in history, surpassing Saudi Aramco. The company reported $18.67 billion in revenue for 2025, driven primarily by Starlink satellite internet growth and NASA contracts, though it continues to post significant losses tied to ambitious R&D in Starship and AI initiatives.
Important pieces moving forward include:
- Starlink Expansion: The satellite broadband service is scaling rapidly, targeting global connectivity, especially in underserved rural and remote areas. This segment offers massive recurring revenue potential as numbers climb.
- Starship and Reusability Leadership: SpaceX’s fully reusable Starship aims to slash launch costs dramatically, enabling frequent missions, Mars ambitions, and lucrative government/defense contracts. Success here could unlock exponential growth.
- AI and Diversification: Recent moves, including ties to xAI, position SpaceX in high-growth AI infrastructure, broadening beyond traditional aerospace.
- Validation Scrutiny: While the $1.75 trillion target excites investors, analysts like Morningstar value the company closer to $780 billion, citing high multiples (around 90x trailing revenue) and execution risks. A 180-day lockup period will prevent early investors like OTPP from selling immediately post-IPO.
The irony has not been lost on observers. Ontario’s government previously canceled a Starlink rural internet contract amid political tensions involving Musk, yet the pension fund’s savvy investment, made when SpaceX was valued around $33-36 billion, and Starlink was nascent, delivers outsized gains independent of politics.
For OTPP, this windfall strengthens its already solid 111 percent funding ratio and underscores the value of patient, innovation-focused capital allocation.
For SpaceX, the IPO marks a new chapter: greater transparency, access to public markets for talent retention and growth capital, and heightened pressure to deliver on its multi-planetary vision.
All eyes are fixed on whether SpaceX can justify its lofty valuation through sustained execution. For Ontario teachers, the returns are already stellar, but SpaceX, like other Musk companies in the past, has plenty of things to prove. Perhaps the most ideal person for the job is at the helm, hoping to bring the company to a massive valuation.
Tesla tipped its hand at where Robotaxi is heading next
Tesla Model 3’s cheapest trim just got a major accolade
