Elon Musk Just Showed Never-Before-Seen Video Of A Reusable Rocket Launch

SpaceX CEO Elon Musk gave a 45-minute talk at South by Southwest on Saturday.

The entrepreneur is involved in a broad range of projects, from cars to space travel. One project he's currently working on is a reusable rocket as part of the "Grasshopper Project."

The entrepreneur showed never-before-seen video of a reusable rocket taking off and landing back on its launch pad during the conference.

The rocket is as tall as a 10-story building.

A reusable rocket will make future commercial travel much cheaper. Musk compared it to the cost of buying an airplane vs. the cost of fueling it. The cost to fuel a rocket is less than .3 percent compared to the cost of building a rocket, according to Musk.

Musk also talked about constructing another launch site in addition to Cape Canaveral in Florida and Vandenberg Air Force Base in California. This one would be for commercial use.

Texas is the leading candidate for a launch base. If a decision is made this year, construction is likely to begin next year and launches could take place within the next two to three years, Musk said.

Here are some screenshots of the test launch: