TSLA: Tesla CEO Says SpaceX Will Put People on Mars by 2026

Tech entrepreneur and billionaire Elon Musk is making a bullish prediction for manned space exploration.

In an interview with CNBC, the CEO of Tesla Motors (TSLA) and SpaceX said, “I’m hopeful that the first people could be taken to Mars in 10 to 12 years, I think it’s certainly possible for that to occur.” SpaceX is currently competing with other aerospace giants to win a NASA contract to build a reusable vehicle to ferry astronauts into Earth orbit. Musk admits that SpaceX is a visionary enterprise with long-term goals, making it unlikely to hold and IPO in the near future. However, if progress continues, the thinks things will change. “Maybe we’re close to developing the Mars vehicle, or ideally we’ve flown it a few times, then I think going public would make more sense,” Musk said.

While SpaceX is currently working on its reusable vehicle for NASA, Musk has a broader vision. “But the thing that matters long term is to have a self-sustaining city on Mars, to make life multiplanetary,” he said.

Despite his role at SpaceX, Musk noted that he doesn’t have plans to leave TSLA where he is chairman and CEO, any time soon. “I’ll continue to be involved with Tesla as far into the future as I can possibly tell,” he commented, noting that he expects TSLA to make “a compelling mass-market car in the next three years.”

TSLA shares edged higher in Wednesday pre-market trading. TSLA stock closed at $231.67 per share on Tuesday.

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Article printed from InvestorPlace Media, https://investorplace.com/2014/06/tsla-tesla-ceo-says-spacex-will-put-people-mars-2026/.

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