Tesla’s (TSLA) Musk On Colonizing the Red Planet

Space Exploration Technologies [SpaceX] and Tesla Motors (TSLA) CEO Elon Musk said Tuesday in an interview on CNBC’s “The Closing Bell” that humans could be shuttled to Mars within the next decade.

“I’m hopeful that the first people could be taken to Mars in 10 to 12 years, I think it’s certainly possible for that to occur,” Musk told CNBC. “But the thing that matters long term is to have a self-sustaining city on Mars, to make life multiplanetary.”

Asked about the possibility of a SpaceX IPO, Musk said the company’s plans are too long-term to attract many hedge fund managers, making an IPO unlikely any time soon.

“Maybe [when] we’re close to developing the Mars vehicle, or ideally we’ve flown it a few times, then I think going public would make more sense,” he said.

Musk’s comments on Tuesday come as SpaceX’s competition for the upcoming NASA commercial contracts in the space travel arena continues to intensify against well-established players like Lockheed Martin (LMT) and Boeing (BA).

“It is possible that we may not win the commercial crew contract…We’ll do our best to continue on our own, with our own money,” Musk said.

Meanwhile, back on planet Earth, Musk confirmed his company’s aspiration to build a mass-market car ready for public consumption within the next three years.

Full Musk clip:

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