Tesla's Musk doubles down on plans for Starlink IPO

Tesla boss Elon Musk doubled down on the firm's promise to let retail investors in on the initial public offering of its space-based internet business, Starlink.

But only in several years' time, once revenue growth was smooth and predictable, he said on his personal account on Twitter.

The business plan for the SpaceX unit is to provide access to the world wide web to those currently locked out due to a lack of fibre optic or cellular connections by placing several thousand satellites in orbit.

In February 2020, company executives said Starlink was aiming to have global coverage in place by the end of the same year.

At the time, Starlink President, Gwynne Shotwell, said the service would cost less than current providers but offer five to 10 times' greater speeds.