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TESLA, INC.

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Tesla : Starlink satellite internet service gets 500,000 preorders, Musk says

05/04/2021 | 08:07pm EDT

May 4 (Reuters) - SpaceX has received more than 500,000 preorders for its Starlink satellite internet service and anticipates no technical problems meeting the demand, founder Elon Musk said on Tuesday.

"Only limitation is high density of users in urban areas," Musk tweeted https://twitter.com/elonmusk/status/1389691848906747905, responding to a post from a CNBC reporter that said the $99 deposits SpaceX took for the service were fully refundable and did not guarantee service.

"More of a challenge when we get into the several million user range," Musk said.

SpaceX has not set a date for Starlink's service launch, but commercial service would not likely be offered in 2020 as it had previously planned.

The company plans to eventually deploy 12,000 satellites in total and has said the Starlink constellation will cost it roughly $10 billion.

Building and sending rockets to outer space is a capital-intensive business, but two of the world's richest men, Amazon founder Jeff Bezos and Musk, who is also the chief of automaker Tesla Inc, have invested billions of dollars over the years to make inroads in this market.

Musk and Bezos have sparred publicly over the competing satellite plans.

The U.S. Federal Communications Commission (FCC) last month approved SpaceX's plan to deploy some Starlink satellites at a lower earth orbit than planned but included a number of conditions to ensure the plan's safety.

SpaceX agreed to accept that their satellites may encounter interference from satellites deployed under Amazon's Kuiper Systems satellite project. (Reporting by Derek Francis in Bengaluru)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. -0.07% 3486.9 Delayed Quote.7.06%
TESLA, INC. 1.09% 623.31 Delayed Quote.-11.67%
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Financials (USD)
Sales 2021 49 399 M - -
Net income 2021 3 430 M - -
Net cash 2021 8 942 M - -
P/E ratio 2021 199x
Yield 2021 -
Capitalization 600 B 600 B -
EV / Sales 2021 12,0x
EV / Sales 2022 8,78x
Nbr of Employees 70 757
Free-Float 80,4%
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Technical analysis trends TESLA, INC.
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TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 35
Average target price 654,03 $
Last Close Price 623,31 $
Spread / Highest target 92,5%
Spread / Average Target 4,93%
Spread / Lowest Target -75,9%
EPS Revisions
Managers and Directors
NameTitle
Elon Reeve Musk Technoking of Tesla
Zachary J. Kirkhorn Master of Coin
Robyn M. Denholm Chairman
Ira M. Ehrenpreis Independent Director
Antonio J. Gracias Independent Director
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