Musk's SpaceX Falls Short As Chinese Rival Takes Lead In Methane Rocket Race


20-Year Pro Trader Reveals His "MoneyLine"

Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.


Private Chinese aerospace company LandSpace successfully launched the world’s first liquid oxygen and methane-powered rocket on Wednesday morning at 9 a.m. local time, way before Elon Musk‘s SpaceX.

What Happened: The rocket named Zhuque-2 launched from Jiuquan Satellite Launch Centre in the Gobi desert and delivered a test payload into sun-synchronous orbit, China’s state media reported. This is Zhuque-2’s second launch attempt after its previous launch attempt in December failed.

Methane-fueled rockets are touted to be the future of spaceflight by enabling reusable rockets and cheaper space travel.

China on Wednesday successfully launched a new carrier rocket into space from the Jiuquan Satellite Launch Center in northwest China.
The Zhuque-2 carrier rocket blasted off at 9:00 a.m. and completed the flight mission according to the procedure https://t.co/Hl0VDpFjpx pic.twitter.com/FK6F2RBWuz

— China Xinhua Sci-Tech (@XHscitech) July 12, 2023

Why It Matters: U.S.-based rocket manufacturers haven’t been able to launch a methane-fueled rocket to date. In March, Relativity Space's 3D-printed rocket Terran 1 lifted off from Florida but failed to reach orbit. A month later, in April, SpaceX conducted the first test launch of Starship.

The rocket, however, exploded less than four minutes after take-off.

To the end of June, Musk said Starship’s second flight test will occur in six weeks.

Check out more of Benzinga's Future Of Mobility coverage by following this link.

Read More: How Canoo’s Specially Designed EVs Will Participate In NASA Artemis Missions To The Moon

Photo by fifg on Shutterstock


20-Year Pro Trader Reveals His "MoneyLine"

Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.


ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

Posted In: NewsSPACETop StoriesChinaElon MuskLandspaceMethane rocketmobilitySpaceX