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SpaceX’s Crew Dragon explosion investigation almost complete, says executive
Speaking at the 2019 AIAA Propulsion & Energy Forum, SpaceX Vice President of Build and Flight Reliability Hans Koenigsmann was significantly more confident that the company is just days or weeks away from wrapping up a serious Crew Dragon failure investigation.
On April 20th, flight-proven Crew Dragon capsule C201 experienced a catastrophic failure mode – largely a surprise to SpaceX – that completely destroyed the vehicle milliseconds prior to a planned static fire test. Given the obvious mortal danger such a failure would have posed to any crew aboard, SpaceX’s plans to conduct its first crewed Crew Dragon launch (Demo-2) in Q3 2019 were thrown out the window. Thankfully, Hans believes that SpaceX is just shy of concluding that investigation, “hopefully” permitting the launch of a critical abort test and Demo-2 before 2019 is out.
More specifically, Koenigsmann noted that SpaceX is currently planning to conduct a critical Crew Dragon in-flight abort (IFA) test in October or November, more or less in line with a recent report from NASASpaceflight.com that the test is targeted for November 11th, 2019. NASASpaceflight also confirmed that SpaceX still plans to fly Falcon 9 booster B1046.3 on the critical test flight, currently the only established plan to launch a thrice-flown booster, a potential first for SpaceX’s reusability program.
SpaceX’s IFA test is a continuation of the company’s suborbital Crew Dragon testing. Back in 2015, SpaceX successfully completed a pad abort test in which a low-fidelity Dragon mockup used its eight SuperDraco abort thrusters to replicate an escape from a rocket failure on the launch pad. SpaceX’s in-flight abort test will – like its namesake indicates – perform a similar test in flight, ensuring that Crew Dragon is able to safely escape from a failing Falcon 9 at Max Q, the point during launch where atmosphere-induced mechanical stress is at its peak.
In theory, demonstrating a successful pad and in-flight (Max Q) abort means that a given spacecraft is able to safely abort at all points during flight – from the pad all the way to orbit. It’s not clear if Crew Dragon is actually designed to be capable of what’s known as an “abort-to-orbit”, but the hardware is likely there if it’s needed.
On July 15th, Hans Koenigsmann and NASA Commercial Crew Program (CCP) manager Kathy Lueders went into significant detail with a preliminary Crew Dragon failure investigation update. They revealed that Crew Dragon’s April 20th explosion was traced to a likely mode, in which a “slug” of Dragon’s liquid oxidizer (nitrogen tetroxide, NTO) leaked and was subsequently smashed into a titanium valve by helium pressurized to several thousand PSI.
Said impact – effectively turning NTO into a bullet – thus created a spark in one or two ways: the titanium debris could have easily created sparks on its own, while NTO is also known to interact in violent and exotic ways with titanium under impact conditions. Either way, the fix is relatively simple (replace the valves and avoid titanium in the NTO pressurization system), but the fact that the design flaw existed in the first place serves as a much larger concern for the entirety of Crew Dragon’s joint SpaceX-NASA design and certification.
Ultimately, Hans seemed much more confident on August 19th than he was a month prior, indicating that the investigation is just shy of wrapping up. Once complete, SpaceX can complete the necessary modifications and get back on the saddle for Crew Dragon’s inaugural crewed launch and next abort test.
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Tesla stock (NASDAQ: TSLA) endured one of its sharpest single-day declines in years on July 23, tumbling approximately 14.5 percent and closing near $320 after opening the session around $374. The drop erased more than $140 billion in market value amid heavy trading volume and left the shares at multi-week lows.
The sell-off followed the company’s second-quarter 2026 results, released the previous evening. Tesla reported record revenue of $28.2 billion, up 26 percent year over year, driven by a Q2-record 480,126 vehicle deliveries. Energy storage deployments also rose strongly.
Tesla (TSLA) Q2 2026 earnings results: miss on EPS, beat on revenue
Yet profitability disappointed sharply. Operating income fell 57 percent to $398 million, compressing the operating margin to just 1.4 percent. Non-GAAP earnings per share came in at $0.33, well below the roughly $0.53 analysts had expected. Free cash flow turned negative by $1.1 billion as capital expenditures surged 142 percent to $5.8 billion, largely tied to accelerated spending on artificial intelligence, robotics, and autonomous systems.
The losses on capex were expected, as Tesla said it would be spending heavily in 2026.
Investors also reacted to lingering uncertainty surrounding key product timelines. During the Earnings Call, management reiterated ambitions for Robotaxi deployment and the Optimus humanoid robot, but offered limited new concrete milestones, renewing questions about execution pace that have long accompanied Tesla’s ambitious roadmap.
The magnitude of the decline places it among Tesla’s more severe one-day percentage losses since its 2010 initial public offering. Historically, the two largest single-day drops (split-adjusted) remain September 8, 2020, when shares fell 21.1 percent amid broader market volatility and valuation concerns, and January 13, 2012, with a 19.3 percent plunge during the company’s early growth struggles.
Other notable declines include an 18.6 percent drop on March 16, 2020, at the onset of pandemic-related market turmoil. Thursday’s move ranks roughly ninth on the all-time list but stands out as the steepest in more than a year.
Despite the short-term pain, Tesla’s long-term trajectory has repeatedly recovered from such volatility. The latest results underscore both the strength of its core automotive and energy businesses and the near-term costs of heavy investment in next-generation technologies.
Elon Musk clapped back at France’s decision to withhold the approval for Tesla’s Full Self-Driving (FSD) Supervised system, projecting a clear and blunt message to French Transport Minister Phillippe Tabarot, after he publicly rejected the technology in its current form.
Tabarot outlines several concerns with Tesla Full Self-Driving in a detailed video statement, where he said, “The safety trade-offs are not yet sufficient to authorize it as it currently stands,” he said. He emphasized that FSD is not a true self-driving system and that the driver remains fully responsible.
Key issues Tabarot also brought up included allowing speeding when surrounding traffic exceeds limits and what he believes are insufficient guarantees of driver attention during complex urban maneuvers such as lane changes, intersections, and roundabouts.
Delaying the approval of FSD in France will cost lives
— Elon Musk (@elonmusk) July 22, 2026
While acknowledging technological progress and France’s support for autonomous innovation, Tabarot stressed that deployment must prioritize road safety. He noted ongoing technical discussions with Tesla, the Netherlands, and other European partners, with further ecosystem meetings planned for the fall.
Musk’s rebuke highlights the human cost of regulatory caution. Tesla’s latest safety reports provide compelling data supporting accelerated adoption. In the most recent 12-month period, vehicles using FSD (Supervised) recorded one major collision per approximately 5.1 million miles driven, dramatically better than the U.S. national average of one crash per 698,000 miles.
Even Tesla vehicles driven manually with active safety features outperform the average by a wide margin. These figures come from billions of real-world miles of telemetry, showing FSD vehicles involved in far fewer incidents than both manual Teslas and the broader U.S. fleet.
Critics argue Tesla’s comparisons require careful scrutiny regarding reporting thresholds and fleet demographics, yet the data consistently positions FSD as a potential lifesaver. With road fatalities remaining a leading cause of death worldwide, Musk contends that proven safer technology should not face prolonged bureaucratic hurdles.
France’s measured approach reflects the broader European regulatory caution, which many, especially Musk, have been critical of in the past. However, as autonomous systems from Tesla and competitors like Waymo demonstrate superior safety in independent studies, pressure is mounting for harmonized approvals.
Musk’s warning carries the belief that every month of delay may equate to avoidable tragedies on European roads.
In a striking revelation that underscores the lucrative crossover between Big Tech and space exploration, Alphabet Inc., Google’s parent company, disclosed a massive $94.1 billion equity stake in SpaceX following the rocket company’s blockbuster initial public offering earlier this year.
The disclosure came in Alphabet’s quarterly filing, marking the first time the long-held private investment has been publicly valued at market prices. Google was an early backer, investing alongside Fidelity in 2015 with roughly $500-900 million at a time when SpaceX was valued around $12 billion.
That bet has delivered extraordinary returns, roughly a hundredfold, transforming a strategic play on satellite internet and launch capabilities into one of Alphabet’s largest assets.
Google, $GOOGL, has said they hold $94 billion in SpaceX, $SPCX, shares after IPO.
— unusual_whales (@unusual_whales) July 23, 2026
Of the total holding, approximately $80 billion remains subject to short-term post-IPO lockup restrictions, preventing near-term sales. An additional $14.1 billion faces longer-term restrictions, extending into the third quarter of 2027. This structure limits immediate liquidity but protects against market volatility as SpaceX transitions into public trading.
The SpaceX position contributed significantly to gains in Alphabet’s broader investment portfolio, which also includes a major stake in AI leader Anthropic. Combined, these holdings helped drive nearly $100 billion in investment gains during the second quarter, providing a substantial boost to net income amid ongoing AI spending pressures.
Analysts view the disclosure as validation of Alphabet’s venture strategy beyond its core search and cloud businesses. The investment aligns with deeper ties, including reported multi-billion-dollar deals for AI computing capacity on SpaceX infrastructure. As SpaceX advances Starship flights, Starlink expansion, and ambitious Mars goals under Elon Musk, Google’s stake positions it to benefit from the commercialization of space.
For Alphabet, the windfall highlights how patient, forward-looking bets in transformative sectors can yield outsized rewards. While lockups temper short-term impact, the holding cements SpaceX as a cornerstone of Alphabet’s diversified portfolio in an era where aerospace, AI, and connectivity increasingly intersect. Investors will watch closely as restrictions lift and SpaceX’s public performance unfolds.
Tesla stock tumbles after earnings, one of its sharpest single-day declines
Elon Musk is not happy about this Tesla Full Self-Driving approval delay
