TIME SpaceX

SpaceX Unveils Next Generation Spacecraft

Elon Musk's bid to build NASA's new space taxi

Billionaire Elon Musk revealed Thursday a new state-of-the-art spacecraft that will carry NASA astronauts to and from the International Space Station.

“SpaceX’s new Dragon V2 spacecraft is a next generation spacecraft designed to carry astronauts into space,” said SpaceX in an official statement.

NASA has been relying on Russian spacecraft to get American astronauts to and from the space station since the agency retired its shuttle fleet in 2011. Russian flights, however, come at a hefty price: more than $70 million per seat. SpaceX hopes that its latest project, Dragon V2, will be the first commercial crew capsule to carry U.S. and partner astronauts to and from the space station, limiting American reliance on Russia.

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