SpaceX Bankruptcy: Is SpaceX going Bankrupt? Here's what Elon Musk has to say

Elon Musk has warned X employees that if y don’t increase production of Raptor engines for his next-generation Starship rocket, aero company will face a genuine risk of bankruptcy. According to an internal email obtained by CNBC, Musk said that X faces bankruptcy if company can’t achieve a Starship flight rate of at least once every two weeks next year. He said that “Raptor production crisis is much worse than it seemed a few weeks ago”. 

“As we have dug into issues following exiting prior senior manment, y have unfortunately turned out to be far more severe than was reported. re is way to sugarcoat this," Musk wrote in email, according to CNBC. 

“Unless you have critical family matters or cant physically return to Hawthorne, we will need all hands on deck to recover from what is, quite frankly, a disaster,” he added. 

Separately, in response to leaked email that Musk sent to his employee over long Thanksgiving holiday, Musk on Tuesday said that X needs to produce a lot more of its next-generation Staships engines, and soon, to keep growing its Starlink broadband constellation and stay in business. Musk said that bankruptcy is unlikely. He, however, added that it is t impossible. 

‘Genuine risk’ of X bankruptcy 

Meanwhile, according to media outlet, latest news comes after two senior-level X employees last week resigned from company. Will Heltsley, w former Vice President of Propulsion, was taken off Raptor development before he left. In his email, Musk also wrote that company’s leadership has been digging into program’s problems since n and discovering circumstances “to be far more severe” than Musk previously thought. X CEO said that he would w personally work on engine production line in a bid to avoid a “disaster”. 

He concluded by saying that X could face “genuine risk of bankruptcy if we cant achieve a Starship flight rate of at least once every two weeks next year."

X’s Starship will get to in 2022: Musk 

It is to mention that Starship is massive, next-generation rocket that X is developing to launch cargo and people on missions to moon and Mars. aero company is testing prototypes at a facility in Texas. It has flown multiple short test flights, however, to move to orbital launches, rocket prototypes will need as many as 39 Raptor engines each – necessitating a sharp ramp in engine production.

Earlier, Musk had described production as most difficult part of creating X’s rocket. firm has steadily built up its Starship production and testing facility in Boca Chica with multiple prototypes in work simultaneously. But Tesla CEO has said that he wasn’t sure if Starship would successfully reach orbit on first try but emphasised that he is “confident” that rocket will get to in 2022. 

(Im: AP/Unsplash)