Elon Musk, chief executive officer of Tesla Motors Inc. (TSLA) and SpaceX, said U.S. military-satellite launches may be at risk because a joint venture of the government’s two biggest contractors relies on Russian engines.
The billionaire was in Washington on Wednesday to back his space company’s push into the Pentagon launch market. He argued before a Senate Appropriations subcommittee that the U.S. military is leaving money on the table by awarding contracts exclusively to United Launch Alliance LLC — a joint venture between Lockheed Martin Corp.and The Boeing Co., which has an estimated value of $70 billion through 2030, rather than opening them up to more competition.
Musk told reporters after the Senate Appropriations subcommittee hearing, “In light of Russia’s recent actions, it does not make sense to reward Russia with a huge contract for rocket engines. Sounds crazy to me.”
[Sources: bizjournal.com; bloomberg]
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