

News
SpaceX proves viability of Falcon 9 reuse, SES agrees to 2nd launch on used booster
SES will launch its SES-11 satellite aboard a previously recovered Falcon 9 first stage, according to new information provided to Spaceflight Now.
The company, Luxembourg-based telecommunications provider, made history earlier this year by enabling the first commercial reuse of an orbital-class rocket with the launch of its SES-10 satellite. Weighing in at just under 5,300kg, SES-10 marked the heaviest geostationary launch SpaceX has yet to conduct while still recovering the first stage. SES-11 will be approximately 100kg heavier at launch, and will make for a thorough test of Falcon 9’s recovery limits if SpaceX chooses to attempt it.
While not guaranteed, it is expected that SES-11 will launch aboard the same first stage that lifted CRS-10 into orbit earlier this year. Launching Dragons to low Earth orbit (LEO) makes for a considerably cooler and less damaging recovery for Falcon 9 first stages, likely leading to an easier refurbishment process. SES-10 utilized the same first stage that launched SpaceX’s CRS-8 mission.
- CRS-8 also happened to mark the first successful ASDS recovery of a Falcon 9 booster. (SpaceX)
- While not fully accurate, given that Ariane 5 carries two satellites per launch, this chart is still a profound demonstration of the rapid progress SpaceX has made in ensuring a more competitive commercial launch industry. (SpaceX)
- SpaceX recovered core 1031, which launched CRS-10, in February 2017. (SpaceX)
Barely 16 months ago, CRS-8’s recovery marked the first ever sea-based recovery of a Falcon 9. Since that major accomplishment, SpaceX has recovered seven stages aboard their fleet of drone ships, landed four stages at their Florida-based landing pad, and successfully conducted the first two commercial reuses of recovered first stages. SES-11, currently scheduled for no earlier than September 27th, would mark the company’s third successful reuse. SES continues to demonstrate growing trust in SpaceX’s cutting-edge approach to shrinking launch costs, as the reused launch of SES-11 would mean that the telecom company has chosen to launch twice in a row on recovered Falcon 9s.

A first stage was captured near Hawthorne, CA, courtesy of an Instagram user. (Instagram /u/pooyagoudarzi)
After the successful launch of SES-10 in March of this year, SES was not yet willing to commit to a specific launch, although the company did state that they would be open to using reused stages again in the future. Three months later, SpaceX launched BulgariaSat-1, once again demonstrating successful reuse. It is clearer than ever that SpaceX’s relentless dedication to iterative technological improvement is making waves in both the company’s customer base and the launch industry worldwide. As SpaceX further lowers the cost of booster refurbishment, this disruption will only continue to grow.
Meanwhile, over on the West Coast, there are unconfirmed reports that the first stage that launched the Iridium-2 mission in late June – core 1036 – has recently arrive at SpaceX’s Hawthorne facilities to be refurbished for reuse at some later date. A photo was taken a handful of days ago and comments suggest that it is indeed 1036. Shotwell’s recent interview on The Space Show indicated 6 potential reuses in 2017, including the first launch of Falcon Heavy. FH, SES-10, BulgariaSat-1, and SES-11 account for 5 of those 6 reuses, making it likely that 1036 is aiming for another flight before the end of the year.
Source: Spaceflight Now
Investor's Corner
Tesla analyst says this stock concern is overblown while maintaining $400 PT
Tesla reported $2.763 billion in regulatory credit profits last year.

One Tesla analyst is saying that a major stock concern that has been discussed as the Trump administration aims to eliminate many financial crutches for EV and sustainable industries is overblown.
As the White House continues to put an emphasis on natural gas, coal, and other fossil fuels, investors are concerned that high-powered sustainability stocks like Tesla stand to take big hits over the coming years.
However, Piper Sandler analyst Alexander Potter believes it is just the opposite, as a new note to investors released on Monday says that the situation, especially regarding regulatory credits, is “not as bad as you think.”
Tesla stacked emissions credits in 2023, while others posted deficits
There have been many things during the Trump administration so far that have led some investors to consider divesting from Tesla altogether. Many people have shied away due to concerns over demand, as the $7,500 new EV tax credit and $4,000 used EV tax credit will bow out at the end of Q3.
The Trump White House could also do away with emissions credits, which aim to give automakers a threshold of emissions to encourage EV production and cleaner powertrains. Companies that cannot meet this threshold can buy credits from other companies, and Tesla has benefitted from this program immensely over the past few years.
As the Trump administration considers eliminating this program, investors are concerned that it could significantly impact Tesla’s balance sheet. Potter believes the issue is overblown:
“We frequently receive questions about Tesla’s regulatory credits, and for good reason: the company received ~$3.5B in ‘free money’ last year, representing roughly 100% of FY24 free cash flow. So it’s fair to ask: will recent regulatory changes threaten Tesla’s earnings outlook? In short, we think the answer is no, at least not in 2025. We think that while it’s true that the U.S. government is committed to rescinding financial support for the EV and battery industries, Tesla will still book around $3B in credits this year, followed by $2.3B in 2026. This latter figure represents a modest reduction vs. our previous expectation…in our view, there’s no need for drastic estimate revisions. Note that it’s difficult to forecast the financial impact of regulatory credits — even Tesla itself struggles with this — but the attached analysis represents an honest effort.”
Tesla’s regulatory credit profitability by year is:
- 2020: $1.58 billion
- 2021: $1.465 billion
- 2022: $1.776 billion
- 2023: $1.79 billion
- 2024: $2.763 billion
Potter and Piper Sandler maintained an ‘Overweight’ rating on the stock, and kept their $400 price target.
Tesla shares are trading at $329.63 at 11:39 a.m. on the East Coast.
News
Tesla rolls out update to Robotaxi service that makes pickups so much better
The update was confirmed by CEO Elon Musk in a post on social media platform X.

Tesla has rolled out a minor update to its Robotaxi service that will likely make the driverless ride-hailing system notably better and more convenient for consumers. The update was confirmed by CEO Elon Musk in a post on social media platform X.
Robotaxi service updates
The Robotaxi update was observed by users of the driverless ride-hailing service over the weekend. As observed by Tesla enthusiast Owen Sparks, the Austin Robotaxi fleet no longer strictly navigates to the pickup point listed on the app. Instead, the Robotaxis now stop in the exact location of a user’s phone.
Elon Musk confirmed the update, noting in a post on X that the change was an upgrade to the service. It’s a reactively minor update in the grand scheme of things, but it should make the Robotaxi service feel more organic and humanlike.
Driverless taxis
Tesla’s Robotaxi service in Austin has been receiving good reviews from users since it was launched, with many praising the vehicles for their cautious and humanlike behavior. Some users on social media even noted that Tesla’s Robotaxis feel safer on the road than cars from services like Uber, which are manually driven.
Tesla’s minor updates to its Robotaxi service are expected to make the customer experience of the driverless ride-hailing service more refined. By doing so, Tesla could ease customers into its service, even if only a fraction of ride-hailing users are familiar with fully autonomous cars. With this in mind, even small updates like picking up customers based on their specific phone location will likely go a long way towards making Tesla’s Robotaxis more accepted by the general public.
News
Tesla sells 3 million Model 3 since 2017, one in every 1.5 minutes
This translates to one Model 3 being sold every 1.5 minutes on average for the past eight years.

Tesla has announced that the Model 3 sedan has sold 3 million units since it started customer deliveries in 2017. As per the electric vehicle maker, this translates to one Model 3 being sold every 1.5 minutes on average for the past eight years.
Massive Milestone
Tesla China VP Grace Tao announced the Model 3’s milestone on Weibo, highlighting that the all-electric sedan has been a tried and tested vehicle that has earned accolades throughout its tenure. She also highlighted that in a recent test, Car and Driver gave the Model 3 a perfect score.
“Model 3 has become the choice of more than 3 million car owners worldwide, and has won the global pure electric sedan sales champion for seven consecutive years,” Tao wrote in her Weibo post.
She also invited everyone to try and test drive the Model 3 sedan, so they could experience the vehicle personally. “Everyone is welcome to come to the store to test drive and experience this global car and champion car,” the Tesla executive added.
Tesla’s Mainstream Bet
There was once a time when Tesla’s future relied on the Model 3’s success. When the Model 3 was unveiled, Tesla was still gaining its footing as a premium automaker that produces the Model S and Model X. The Model 3 was the company’s first mass-market car, and it was Tesla’s first foray into serious mass production. At the time, it was no exaggeration to state that Tesla’s survival depended on the Model 3.
The Model 3’s runaway success was a victory not just for Tesla but for the overall electric vehicle sector as a whole. Because the Model 3 was simply a great car, electric or otherwise, it was able to prove that there is serious demand for reasonably-priced mass market EVs. It was also able to pave the way for the Model Y, Tesla’s mass market all-electric crossover that ultimately became the world’s best-selling car in 2023 and 2024.
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