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SpaceX will attempt Falcon 9 upper stage landings in 2018, says Shotwell
SpaceX also hopes to create an Internet constellation around Mars
In a candid and light-hearted presentation given at the Massachusetts Institute of Technology, SpaceX President Gwynne Shotwell revealed a considerable amount of exciting information about the space launch company’s future prospects and near-term goals.
Fascinatingly, Shotwell confirmed that SpaceX is currently attempting to procure nuclear materials in order to conduct research and development of nuclear propulsion for spacecraft. Nuclear-powered methods of propulsion have the potential to drastically increase the efficiency of spacecraft once in orbit, with the primary benefit being faster travel times around the Solar System. Faster transit times for manned spacecraft would translate into fewer consumables needed for those journeys, increasing the amount of other supplies that could be brought in a single trip. Beyond the orbit of Mars, other destinations humans might like to visit will require non-chemical propulsion, with more traditional rocketry leading to one-way voyages measured in years.
https://twitter.com/charlottelowey/status/913145922976190464
Equally exciting, she stated that SpaceX plans to attempt the first soft landing of Falcon 9’s upper stage before the end of 2018. Second stage recovery efforts would proceed much like Falcon 9’s first stage recovery did, beginning with attempts to land softly in the ocean and later bring in a droneship to attempt legitimate recoveries of the vehicle. While SpaceX’s now highly successful program of first stage recovery has taken the first steps to appreciably lower the cost of access to orbit, as much as 30% or more of the cost of every Falcon 9 launch can be found in the second stage and its many components, all of which are currently discarded every launch. Second stage recovery and reuse is nevertheless absolutely crucial to SpaceX’s and Elon Musk’s goal of reducing launch costs by anywhere from a factor of 10 to 100.
Still, the payload fairing – a major component of the Falcon 9 – costs approximately $5 million on its own, nearly 10% of the cost of a $62 million expendable launch. SpaceX has been making concerted progress towards fairing recovery and reuse, and Musk has said that he expects SpaceX to accomplish the first successful fairing recoveries before the end of 2017. The second stage is thus the obvious next step if the goal is to create a fully-reusable Falcon 9. SpaceX, however, seem to be prioritizing a different path.
Long road to reusabity of Falcon 9 primary boost stage…When upper stage & fairing also reusable, costs will drop by a factor >100. pic.twitter.com/WyTAQ3T9EP
— Elon Musk (@elonmusk) September 14, 2017
Shotwell clarified that SpaceX would not attempt to reuse Falcon 9’s upper stage, even if recovery efforts succeed. This suggests that SpaceX is planning to focus the majority of its research and development staff and capital on their considerably larger “BFR (Big Falcon Rocket) planetary colonizer” vehicle, which will be unveiled for the first time later today. Hence, Shotwell’s comment lends confidence to the belief that Falcon 9 will never become fully reusable, which makes sense. The decision to focus energy on a new launch vehicle is arguably a more efficient and productive task than modifying Falcon 9 even more drastically. The development of an entirely new rocket offers SpaceX the freedom to design for complete reusability from the start, whereas Falcon 9’s path to partial reusability has been inevitably circuitous.
Finally, Shotwell briefly discussed SpaceX’s desire to create a vast constellation of Internet satellites around Earth, stating that their goal was “make scads of cash, spend it going to Mars, [and] give Mars broadband too!”. This aligns with speculation and leaked financial documents. Just yesterday, the Federal Communications Commission (FCC) held an Open Commission meeting where they voted to hand off certain aspects of regulatory approval to the International Telecommunications Union, which is a relatively positive development for SpaceX’s satellite constellation.
https://twitter.com/charlottelowey/status/913146863842414593
Regardless, Musk is bound to reveal some even more thrilling details about SpaceX in his presentation at the 2017 International Astronautical Congress. Currently scheduled for 4 a.m UTC on September 29, or 9:30 p.m. PDT on September 28, and an official SpaceX.com livestream is expected to be provided for those who were unable to make the long journey to Adelaide, Australia.
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
