Jeff Bezos wants to build permanent outposts on the moon and colonize space. Richard Branson wants to make spaceflight as commonplace as air travel. Elon Musk wants to settle Mars to make humanity multiplanetary.
IBX’s Kam Ghaffarian wants to go even further: the stars.
“There’s this common denominator of combining altruism, to do something purposeful and good, and combine it with capitalism to make a positive impact,” he told CNBC’s Morgan Brennan at the Space Symposium in Colorado Springs. “The vision for IBX is protecting our home, our planet, and then finding new homes and stars and everything involved to do that. So, on the space side, if we say that the ultimate destiny for humanity is interstellar travel, and going to the stars, then we need to take a lot of intermediary steps to do that.”
It might sound farfetched if it wasn’t for his track record. Ghaffarian has been instrumental in ushering in the new space economy, having co-founded and invested in a cadre of commercial space ventures.
Publicly traded Intuitive Machines, where Ghaffarian is co-founder and executive chairman, recently made history when its Odysseus spacecraft successfully landed on the moon, becoming the first commercial lander to do so.
Ghaffarian is also the co-founder and chairman of Axiom Space, which now regularly sends private astronauts on commercial missions to the International Space Station — the first company allowed to connect modules and provide full-service missions to the ISS — as it works to build its own space station.
With Quantum Space, where he’s also the executive chairman, the focus is on deep space commerce and communication through a superhighway of satellites stretching from earth orbit to the moon and beyond; X-Energy, which he founded, has developed operating nuclear reactors that it says are “designed to be intrinsically safe,” as well as nuclear propulsion capabilities.
His family office, IBX (which stands for “Imagine, Believe, Execute”) sits at the center of this space exploration constellation.
“We’ve got to do all the intermediate steps. I’m with Elon [Musk] and Jeff [Bezos], both my dear friends, to be able to first do the LEO [low earth orbit], be able to go to the moon and Mars, because we’ve got to do those before we can go interstellar,” Ghaffarian explained on CNBC’s Manifest Space podcast.
Follow and listen to CNBC’s “Manifest Space” podcast, hosted by Morgan Brennan, wherever you get your podcasts.
Unlike other high-profile billionaires building commercial space companies, Ghaffarian made his fortune through the space industry, and rather than focusing on access to space, he’s leveraging those falling costs to build out infrastructure and business activities in space.
The Iran-born entrepreneur, who emigrated to the U.S. some four and a half decades ago, co-founded a government services company called Stinger Ghaffarian Technologies that became a top contractor for NASA before KBR acquired it in 2018.
“If you create a company that is fantastic, and you develop unbelievable technologies, but nobody wants to buy it, or there is no business case, then you will have not made any difference,” Ghaffarian said. “How do you create a business model where you are purposeful, you’re making a difference, but also … can provide return to the investors in a massive way?”
Ghaffarian believes the space economy will be worth trillions of dollars — and sooner than many realize. He sees the technological leaps forward in artificial intelligence and quantum computing as crucial to unlocking the full potential of space.
He said microgravity-based pharmaceutical research and industrial manufacturing, sustainable propulsion and energy sources, and the building out of lunar infrastructure will be some of the capabilities and services in greater demand in the coming years.
“It’s normal for people to not quite appreciate it. …. When did people appreciate the AI revolution — 10 years ago? Not really, right? And all of a sudden, now we have this herd mentality that everybody’s jumping in” said Ghaffarian, who also cited the early days of Alphabet, Amazon, Apple, Tesla and SpaceX, even air travel, as templates for the space world. “I think we are in the beginning of that in this space exploration and space ecosystem, space economy, and it’s still not there, but my belief is that it is taking off and it’s going to grow rapidly, and I truly believe that they’re underestimating the size of the market.”
As investors catch on, the space billionaire’s ventures will continue to shoot for the stars.
Mammoth Solar, a 1.3 gigawatt (GW) solar farm in northern Indiana, is now powering into its biggest construction phase yet, cementing its place as one of the largest solar projects in the US.
The solar farm is set to increase Indiana’s solar capacity by more than 20% once it’s fully online. And with construction ramping up this month, developer Doral Renewables has given Bechtel Full Notice to Proceed on the design, engineering, and construction of three major phases of the project: Mammoth South, Mammoth Central I, and Mammoth Central II. Together, these phases will generate 900 MW of clean energy.
That’s enough electricity to power around 200,000 homes with clean energy, helping Indiana shift away from fossil fuels while boosting the local economy.
Construction is already underway, and over the next two years, Bechtel will install around 2 million solar panels, with about half of them made in the US. The company is also handling all engineering, procurement, and construction work, using its digital project management tools and autonomous tech to keep everything on track.
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At the peak of the buildout, Mammoth Solar is expected to create over 1,200 jobs, with at least 15% of those set aside for apprenticeships.
Bechtel says its success will hinge on strong collaboration with local trades and vendors. The company is working closely with craft professionals and is committed to being a reliable community partner throughout construction.
Once the solar farm is complete in 2027, Doral Renewables plans to roll out agrivoltaics across the site. That means livestock grazing and crop cultivation will happen right alongside energy production, giving farmers in the area a way to keep working their land while supporting clean energy development.
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BYD is about to launch an even smaller EV, but this one’s a little different. It’s BYD’s first kei car. You know, those tiny vehicles that dominate Japan’s city streets? BYD’s mini EV was just spotted out in public, giving us our first real look at the upcoming kei car.
BYD’s first mini EV was spotted in public
Last week, rumors surfaced that BYD was developing its first kei car, which would compete with top-selling models from Nissan, Honda, Mitsubishi, and other Japanese brands.
Kei cars, or “K-Car,” as they are sometimes called, are a class of ultra-compact vehicles that cannot be longer than 3.4 meters (134″). To put that into perspective, BYD’s smallest EV currently, the Seagull (called the Dolphin Mini overseas), is 3,780 mm (148.8″) long.
The mini vehicles are ideal in Japan because they are so small, making it easy to get around tight city streets. They are also more affordable and efficient than larger vehicles.
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BYD’s mini EV was spotted for the first time during a road test this week by IT Home (via CarNewsChina), revealing a familiar look. It has that boxy, compact look of a typical kei car with sliding side doors.
BYD’s kei car, or mini EV, in camouflage (Source: Sina/ IT Home)
According to reports, BYD is developing a new platform for the model. It will reportedly include a 20 kWh battery, good for 180 km (112 miles) WLTC range. By using its in-house Blade LFP batteries, BYD is expected to have a cost advantage.
BYD’s upcoming mini EV is expected to start at around 2.5 million yen, or about $18,000. That’s about the same as the Nissan Sakura (2.59 million yen), Japan’s best-selling EV last year.
Last year, around 1.55 million kei cars were sold in Japan, accounting for roughly 40% of new vehicle sales. Honda’s N-Box was the top-selling kei car (EV or gas) for the third straight year.
As Nikkei reported, some are already calling BYD’s electric kei car “a huge threat.” A Suzuki dealer said, “Young people do not have a negative view of BYD. It would be a huge threat if the company launches cheap models in Japan.”
Nissan Sakura mini EV (Source: Nissan)
BYD already sells several electric cars in Japan, including the Atto 3 SUV, Dolphin, and Seal. Last month, the company launched the new Sealion 7 midsize electric SUV, starting at 4.95 million yen ($34,500).
Although Japan isn’t really an EV hot spot, with sales falling 33% in 2024 to just under 60,000 units, BYD sees an opportunity.
BYD Dolphin Mini (Seagull) testing in Brazil (Source: BYD)
By making virtually every car component in-house, including batteries, BYD can offer EVs at such low prices while still making a profit. BYD’s cheapest and best-selling electric car, the Seagull, starts at under $10,000 (69,800 yuan) in China.
With new smart driving and charging tech rolling out, BYD’s electric cars are getting smarter and even more efficient.
Can BYD’s mini EV compete with Japanese brands? At the right price, it may have a chance. Check back soon for more on the upcoming kei car. We’ll keep you up to date with the latest.
Ford’s electric pickup truck is back at the top. The F-150 Lightning is once again the best-selling electric pickup in the US after overtaking the Tesla Cybertruck in the first quarter.
Ford’s F-150 Lightning is the best-selling electric pickup
After launching in 2023, Tesla’s Cybertruck quickly outpaced the Lightning to become America’s top-selling EV pickup last year.
Since Tesla doesn’t break down regional sales, registration data gives us our best estimate. The latest registration data from S&P Global Mobility (via Automotive News) shows that the F-150 Lightning retook the title in March and the first quarter of 2025.
Ford’s electric pickup notched 2,598 registrations in March, topping the Tesla Cybertruck with 2,170. In the first quarter, the F-150 Lightning remained ahead with 7,913 registrations, compared to the Cybertruck’s 7,126.
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Although the Cybertruck was the fifth top-selling EV in the US last year, it didn’t even crack the top ten in March. It placed ninth through the first three months of 2025, behind the Volkswagen ID.4.
2025 Ford F-150 Lightning (Source: Ford)
While Tesla and Ford remained the leaders in the electric pickup market, several new models are gaining momentum. According to the most recent numbers from Cox Automotive, GM sold 2,383 Chevy Silverado EVs and 1,249 GMC Sierra EV models in Q1. Meanwhile, Rivian sold 1,727 R1Ts during the quarter.
Earlier today, Electrek reported that new models, including the Honda Prologue and Chevy Blazer EV, helped drive EV registrations up 20% in the US in March.
2026 GMC Sierra EV AT4 (left) and Elevation (right) trims (Source: GMC)
Although the Lightning reclaimed the crown from Tesla, Ford’s electric pickup isn’t exactly flying off the lot. Ford reported Lightning sales fell 16% to just 1,740 units in April. Through April 2025, Ford has sold 8,927 electric trucks, down 9% from the 9,833 it handed over last year.
Electrek’s Take
To be fair, Tesla is still ahead by a wide margin in the US. The S&P numbers show Tesla had over 51,000 registrations in March, up 1% after two months of lower YOY growth.
GM’s Chevy surpassed Ford to become the second-best-selling EV brand with nearly 8,500 registrations, an increase of 274% from last year. Ford dropped to third with 7,361 registrations.
Although it’s just one quarter, it’s starting to show how Tesla CEO Elon Musk’s political antics are likely impacting sales. After the Cybertruck’s initial hype, it appears many buyers are opting for traditional pickups, like the F-150 Lighting.
Meanwhile, Ram is delaying its first electric pickup, the 1500 REV, again. Ram is pushing production back until summer 2027, saying it’s “extending the quality validation period.” The plug-in hybrid (PHEV) Ramcharger will also be delayed until the first quarter of 2026.
After pulling the Ramcharger ahead of the fully electric version last year, Stellantis blamed weak demand for EV pickups in the US.
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