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Benzinga
Benzinga
Technology
Anusuya Lahiri

Here's Why OneWeb Resorted To Elon Musk's SpaceX For Satellite Launch

OneWeb Elon Musk SpaceX Tesla Inc. Russia Arianespace Space Exploration Technologies Corp Baikonur Cosmodrome Kazakhstan Kremlin
  • OneWeb Ltd looks to use Tesla Inc (NASDAQ:TSLA) CEO Elon Musk’s Space Exploration Technologies Corp (SpaceX)  to launch satellites.
  • OneWeb would continue deploying the remaining 220 spacecraft out of its initial planned fleet of 648. 
  • OneWeb made a move after Russia blocked deployments with French rocket company Arianespace SA, Bloomberg reports.
  • OneWeb also looked to beam broadband down from low-Earth orbit to businesses and government customers.
  • Russia refused to let OneWeb proceed with a March 5 launch in the Kremlin-controlled Baikonur Cosmodrome in Kazakhstan using a Russian-supplied Soyuz rocket operated by Arianespace. 
  • Russia urged the U.K. to sell its stake in the business and sought assurance of OneWeb against not utilizing it for military applications. 
  • OneWeb looked to resume the launches in 2022.
  • Price Action: TSLA shares traded higher by 0.71% at $912.10 on the last check Monday.
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