SpaceX founder and CEO Elon Musk on Saturday shared the latest designs for the company's next-generation vessel called Starship.

  • Elon Musk shares Starship update Saturday
  • SpaceX CEO showed the latest designs for the system
  • Starship is designed to take cargo and people into space

The vessel is currently being assembled at a launch facility in Texas.

Made of stainless steel, Starship part of a two-stage system that includes a Super Heavy rocket, which is designed to take cargo as well as crew members into space. Both will be reusable, Musk said during Saturday's presentation.

The Starship prototype being built in Texas has three of SpaceX's Raptor rocket engines. The final version will have six, according to designs Musk showed Saturday. The engines will move to steer the rocket, he said.

Musk also discussed Starship's heat shield and how it would refuel while in orbit.

A similar Starship prototype is being built at the company's Florida facility.

The annual update marked a very special moment in SpaceX history. The company made its first orbit 11 years ago today.