He has unveiled the Interplanetary Transport System
Entrepreneur Elon Musk has outlined his vision for getting humans to Mars and back.
The founder and CEO of Space Exploration Technologies Corp - SpaceX - says he hopes to carry 100 people on each trip.
He has unveiled the SpaceX Interplanetary Transport System.
"You can't create a self-sustaining civilization on Mars if the ticket price is $10bn per person," Musk told an audience.
"We aim to improve the cost per ton to Mars by 5 million percent," he added.
He has also demonstrated the first test of the Raptor Interplanetary Transport Engine, which will carry the ship.
First test of the Raptor Interplanetary Transport Engine pic.twitter.com/478Z4v86gD— SpaceX (@SpaceX) September 27, 2016
The 45-year-old is worth US$11.7bn (€10.4bn), according to Forbes magazine.
SpaceX designs, manufactures and launches advanced rockets and spacecraft.
The company was founded in 2002 to revolutionise space technology, with the ultimate goal of enabling people to live on other planets.
The firm has more than 4,000 employees at its headquarters in California.
It also has launch facilities in Florida and California - as well as a rocket-development facility and offices in Texas.
The firm says it also has suppliers in all 50 US states.
It hopes to see Mars missions departing from Florida - with Musk's best case scenario predicting travel within a 10-year time frame.
The cost of a seat on the Interplanetary Transport System could be "roughly equivalent to a median house price in the US" - somewhere around €178,000.