Tesla owner plans to make humans reach Mars in next seven years

The new charging hub in Franklin Street Adelaide

The new charging hub in Franklin Street Adelaide

Does Elon Musk's space exploration ambitions know no bounds?

The rocket, code named "BFR", has gone through a series of tests: Musk claims it has a landing reliability on par with the safest commercial airliners.

Musk also shared concept images of the spacecraft landed on Mars, next to a human settlement, telling people in Adelaide he wanted to make the Red Planet "a nice place to be" with a sustainable human population of around one million.

CEO Elon Musk's rocket company, SpaceX is working on a plan to colonize Mars and hopes to eventually transport people between any two cities on Earth in under an hour.

It's called BFR, short for "Big F**king Rocket", and it's what will take you to Shanghai from NY in just under 40 minutes.

In fact, a journey from London to NY would take just 29 minutes.

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Musk said SpaceX is refocusing all of its operations around the BFR, which he plans to start building within the next year.

Closer to home, Musk said BFR could be used to launch satellites, take missions for the International Space Station and even help establish a moon base - revenue that could go toward paying off the rocket system's development costs. "Five years seems like a long time for me", Mr Musk said. It's here where passengers and cargo will be stored for flights.

The redesigned SpaceX rocket will be reusable and hold about 100 people and include common areas, a galley, and a solar storm shelter. The lower parts of the rocket will be used for its propellant: 860 tons of liquid oxygen, with methane to help propel the vehicle through its flight.

Not content to overturn nearly every notion we have about transportation, Elon Musk today unveiled an even more insanely transformative vision with the goal of allowing humans to reach any place on Earth in under 60 minutes. Musk announced an "aspirational" timeline of launching first BFR cargo craft to Mars in 2022.

The aim would then be to build a plant on the surface of Mars that could synthesise fuel to send the BFR back to Earth for further missions.

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