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SpaceX’s plans for a reusable Dragon spacecraft fleet detailed by Gwynne Shotwell
President and COO Gwynne Shotwell says that SpaceX is simultaneously building a fleet of reusable, orbital Dragon spacecraft designed to support a range of NASA and commercial astronaut and cargo launches over the next 5-10 years.
Speaking shortly after SpaceX’s successful November 15th operational astronaut launch debut, also known as Crew-1, Shotwell revealed that the company is already in the process of building several more Crew and upgraded Cargo Dragon spacecraft on top of the vehicles already in the late stages of preparing for their first or second flights.
The comments ultimately confirm an unsurprising reality of the new Dragon 2 spacecraft: thanks to reusability, SpaceX intends to accomplish more than ever before with far fewer vehicles, likely saving a great deal of time and resources over the next 5-10 years.
Specifically, Shotwell revealed that SpaceX intends to build three reusable Cargo Dragon 2 capsules, one of which is already completed and in Florida preparing for its December 2nd CRS-21 launch debut. On the crew side of things, SpaceX will build “three more” Crew Dragon capsules on top of the flight-proven Demo-2 and currently orbital Crew-1 capsules. It’s unclear if this means that the new Crew Dragon capsule flown on SpaceX’s January 2020 In-Flight Abort (IFA) test will be refurbished for additional flights.
Excluding IFA Crew Dragon capsule C205, SpaceX thus intends to operate a fleet of at least three Cargo Dragon 2 and five Crew Dragon capsules, representing eight reusable spacecraft each capable of at least five orbital missions.
Reiterated by both Shotwell and director Benji Reed, the company has plans for as many as eight or more Dragon missions – including Crew-1, launched on November 15th – between now and February 2022.
“Over the next 15 months, we will fly seven Crew and Cargo Dragon missions for NASA. That means that starting with Crew-1, there will be a continuous presence of SpaceX Dragons on orbit. Starting with the cargo mission CRS-21, every time we launch a Dragon, there will be two Dragons in space – simultaneously – for extended periods of time. Truly, we are returning the United States’ capability for full launch services and we are very, very honored to be a part of that.”
Benji Reed, SpaceX – November 10th, 2020
After mirroring Reed’s seven-flight estimate for the next year or so, Shotwell later added that she had been hedging by adding a fully private Crew Dragon mission recently announced by Axiom Space and scheduled to launch no earlier than (NET) late 2021. She also hinted at the possibility of “some other fun missions which I’ll chat about later.” All told, SpaceX appears to be gearing up for an incredibly busy year and a half of three NASA Crew Dragon missions, four uncrewed Cargo Dragon launches, and even one private astronaut launch.
Indeed, official NASA planning documents confirm plans for eight Crew and Cargo Dragon launches – including Crew-1 – between November 2020 and March 2022. In other words, even excluding the possibility of Axiom’s first private Dragon launch in November or December 2021, SpaceX is already tracking towards an average of one Dragon launch every two months (or less) for the next 16 months.
To complete that extremely ambitious manifest, SpaceX and NASA will have to lean more heavily than ever before on Falcon 9 and Dragon reusability, putting to the test whether upgraded Dragon 2 capsules are dramatically more reusable than their Dragon 1 predecessors. For reference, SpaceX’s Dragon 1 capsule turnaround record was just shy of 15 months between orbital launches. To complete five CRS2 cargo launches and three or four Crew Dragon launches in 16 months, SpaceX will have to break its orbital spacecraft turnaround record at least twice, if not three or four times.
SpaceX’s next NASA astronaut launch (Crew-2) is already scheduled to crush that Dragon reuse record by as many as five months (~33%) when it launches in March 2021 – marking Demo-2 capsule C206’s second orbital mission. Meanwhile, Cargo Dragon 2’s CRS-21 launch debut is expected to fly on Falcon 9 booster B1058, making it NASA’s first orbital launch on a twice-flown and thrice-flown booster.
Tesla (NASDAQ: TSLA) reported its earnings for the third quarter of 2026, marking a reasonable performance on the various financial metrics. Tesla still plans to hold a call that will field investor questions at 5:30 p.m. ET, 4:30 p.m. CT.
Here’s where Earnings came in:
- Total Revenues: $28.046 reported vs. $28.34B expected
- Non-GAAP EPS: $0.48 reported vs. $0.45 expected
- Operating Margin: 2.6 % reported vs. 2.5% expected
- Operating Income: $718M reported vs. $721M expected
- Free Cash Flow: $1.531B reported vs. ~-$4.51B expected
Tesla $TSLA Earnings Results:
Revenues: $28.046B
Non-GAAP EPS: $0.48
Operating Margin: 2.6%
Operating Income: $718M
FCF: $1.531B— TESLARATI (@Teslarati) October 21, 2026
Major Takeaways
Full Self-Driving (Supervised)
“FSD (Supervised)⁴ attach rate continued to grow, reaching over 75% of new vehicle deliveries in North America – our most mature market – a nearly twenty percentage point sequential increase. We believe that FSD is driving demand in markets where it is available, and we continue to work with regulators to get it approved in other markets.”
Tesla Semi
“We began volume production of Tesla Semi, our Class 8 heavy-duty truck. The top variant can go 500 miles at full 82,000 lbs gross combination weight while achieving an efficiency of 1.7 kWh/mile. That efficiency allows the Tesla Semi to use a third of the energy used by a comparable diesel truck to haul the same payload. In a transportation market where energy is one of the largest components of total cost per mile, this will provide a meaningful advantage to Tesla Semi operators.”
SI Compute
“We plan to reach 400 MW of SI training compute by the end of the year, supporting the development of both vehicle and humanoid robot autonomy software. Additionally, we continued construction for the Austin Fab, where we plan to start commissioning equipment in 2027.”
Robotaxi
“We began deployment of Cybercab into our Robotaxi fleet in Austin. We reached nearly two million cumulative unsupervised miles for our Robotaxi service as of the end of the quarter. Operating hours in Austin are now 6am to midnight, and we expect to reduce wait times via increased fleet supply and improvement of Robotaxi orchestration algorithms. Grok is available in Cybercab with access to Grok Bot and Connectors, which allows users to manage their inbox, calendars, files, chats and tasks – all hands free via voice command – making Cybercab a mode of transport, a productivity space and, with our entertainment options, a second living room.”
Interested in ordering a Tesla? Use my referral code for three free months of Full Self-Driving (Supervised) here.
Tesla (NASDAQ: TSLA) reports its earnings for Q3 today. Here’s what to expect, as the company will reveal its balance sheet after the market closes on Wednesday.
Tesla already reported deliveries just after Q3 ended, and it demolished Wall Street consensus estimates of roughly 462,000 vehicles. Tesla delivered 486,532 cars in the third quarter, which was a big beat, but was down 2.1 percent from the same quarter last year. Energy storage deployments were 13.7 GWh, up year-over-year.
Tesla showrooms picked clean ahead of Q3 end as demand looks strong
For the quarter, analysts have already compiled their predictions for what Tesla will report this afternoon:
- Total Revenues: $28.34B
- Non-GAAP EPS: $0.43
- Operating Margin: 2.5%
- Operating Income: $721M
- Free Cash Flow: ~-$4.51B
Here are a few things we are looking forward to hearing about on the call:
Automotive Gross Margin and Overall Profitability
This was 16.3 percent in Q2, down from 19.2 percent in Q1, and was impacted by warranty charges and some fading regulatory credits. Consensus implies overall gross margin near 18 percent, but a miss here would potentially reinforce concerns about pricing pressure on its vehicles.
Pay attention to energy storage margins as well, especially since Tesla missed GWh expectations, although it was still a strong quarter.
Robotaxi/Cybercab, Unsupervised FSD, and Optimus Progress
The Say questions from retail investors usually focus on these types of projects, and this quarter is no different. Scaling the Cybercab fleet beyond Austin amid the open NHTSA safety review, timeline for Unsupervised FSD in customer cars, Robotaxi unit economics, and Optimus cost per unit plus when it could start generating revenue, are all things to be looking for.
Any concrete timelines or regulatory path details will likely move the stock more than the near-term numbers. SpaceX merger speculation, which was detailed during SpaceX’s earnings call last night, may also surface, although the key details were shared last night.
Elon Musk just confirmed the Tesla and SpaceX merger step everyone was waiting for
Say Investor Questions
- How does the Cybercab fleet scale past Austin, and what’s the regulatory path outside Texas given NHTSA’s open safety review?
- When can we anticipate FSD unsupervised in customer cars?
- When will the CyberCab be available for customer purchase/ownership?
- What’s the unit economics per paid robotaxi mile, and how does it compare to the thirty-cent target?
- Tesla has acknowledged that HW3 vehicles cannot support unsupervised FSD. When will owners know whether they can upgrade their hardware for free, and when will Tesla provide a clear plan?
The full Earnings Call will be streamed this evening after market close around 5 p.m. this evening.
SpaceX confirmed the date of Starship’s 15th launch window with some massive ambitions for the mission, as it will attempt to catch Ship for the first time.
CEO Elon Musk confirmed during SpaceX’s Earnings Call last night on October 20 that it would launch Starship for its 15th test flight in November, and there are some incredible things the company wants to try, making it perhaps the most groundbreaking launch in the program’s history.
SpaceX delivers blockbuster Q3 results as Super Intelligence segment booms
The most major development of the call was SpaceX’s intention to catch Ship alongside catching the Super Heavy Booster, something that has happened in the past. SpaceX showed an animation of the Ship catch, which will be done on the launch tower’s chopsticks:
SpaceX has released a new Starship tower catch animation for the upcoming Flight 15! https://t.co/kStn01Da8u
— Truthful🛰️ (@Truthful_ast) October 20, 2026
This monumental goal is to catch both the Ship and Booster in a dual-catch scenario, an incredible feat since SpaceX has never been able to reuse a Ship after launch. Musk said it would be “the first time that an orbital launch vehicle has been fully recovered,” and said it would be a “profound technology milestone.”
Musk said the odds of success on this first Ship catch attempt are “more likely than not,” but SpaceX is ultimately prepared for more tries moving forward. The SpaceX frontman said that, starting next year, Starship would have a “steady stream” of flights through the end of the year.
The cadence will accelerate in 2027, with Musk stating the company plans to target weekly flights in the first half of 2027 and twice-weekly by year-end.
The Flight 15 attempt follows that of Flight 14, which took off in late September and was Starship’s first orbital mission. It deployed 26 Starlink V3 satellites, accomplished a controlled ocean splashdown of both stages, and shed more light on potential challenges for the program moving forward.
As of now, the Starship program is firing on all cylinders.
Interested in ordering a Tesla? Use my referral code for three free months of Full Self-Driving (Supervised) here.
Tesla Q3 2026 Earnings results: in-line revenues, slight beat on EPS
Tesla reports Q3 Earnings today: here’s what to expect
