Elon Musk Warns About SpaceX Bankruptcy

• Elon Musk has told SpaceX employees that the company is at risk of bankruptcy due to a lack of progress on engines created

• In a memo sent to all employees, be stated that “The Raptor production crisis is much worse than it seemed a few weeks ago,”

• The Raptor engines power the company’s Starship rocket and the company needs to take Starship flight rate to at least once every two weeks

Elon Musk has expressed his dissatisfaction over the progress that SpaceX has made in the development of Raptor engines for its Starship Rocket.

The information was passed in a mail that was sent to the company’s employees on Tuesday, which was obtained by CNBC.

In the mail, Musk disclosed that the Raptor production the company faces is much worse than initially believed weeks ago.

In the mail, the billionaire stated that SpaceX faces a risk of bankruptcy if a Starship flight rate of once every two weeks cannot be achieved by 2022.

Starship is a giant rocket currently being developed by the Space company to transport people to the moon for missions.

SpaceX is currently testing out prototypes in a remote area of Southern Texas and several short test flights have already been done.

The challenge comes majorly because the company needs 39 Raptor engines each to graduate to orbital launches.

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In the mail, the SpaceX CEO disclosed that he was initially planning to take the Thanksgiving holiday off but having discovered the situation, he would personally work on the engine production line from Friday through the weekend.

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