In an interview with Bloomberg, 43 year old Elon Musk discussed his plans for a new satellite engineering office in Seattle as well as ongoing and upcoming plans for both Tesla Motors and SpaceX.

Although he didn’t get into specifics, Musk said that SpaceX plans to do for satellites what they have done for rockets. It is not immediately clear what, exactly, that means. To date SpaceX has managed to create the least expensive rockets and designed rockets that can take off, land and take off again starting with the ‘Grasshopper’ test vehicle which was retired in 2013. On Saturday SpaceX very nearly succeeded in landing a re-usable rocket on a floating platform in the Atlantic Ocean, a development that would significantly lower the cost of space launches.

Although he did not say in what way he hopes to revolutionize satellite technology he did say that he expects the Seattle engineering office to employ 700 to 1000 people by the time it is up and running, according to the Seattle Times.

Satellites are expected to play a crucial role in his ultimate goal of creating permanent human settlements on Mars by the 2030s. Creating the commercial satellite business now will provide the young billionaire with the economic and technical infrastructure to move forward with his Mars plans when the time comes.

In a Reddit AMA last week, Musk said that his company’s designs for its first Mars passenger spacecraft would be unveiled by the end of 2015.

In addition to the Space X news, he offered a glimpse into upcoming news about Tesla Motors. Musk said that he expects to unveil the long delayed Tesla Model X in the third quarter of this year. Among other things the Model X is expected to have a number of autonomous-driving features and while two thirds of Model S sales are to men, half of all Model X orders so far are to women.

“The X will have a step beyond what we’re currently shipping on the autonomous front. There are a whole bunch of things about the X that have not been revealed,” said Musk.

He also predicted that Palo Alto based Tesla Motors will see sales hit 100,000 cars a year, providing $10 billion in annual sales.

The Tesla CEO, whose shares have outperformed the rest of the automotive sector last year and enjoys the highest market capitalization per share in the industry is addressing the Automotive News World Congress in Detroit today.

In addition to the big news, Musk followed up on a few other items. Musk said that the Tesla “gigafactory” outside Reno, Nevada is on schedule and expected to be up and running on time.

The factory, which produces all of its own power using wind, solar and geothermal energy is expected to produce large numbers of inexpensive electric car batteries. The Reno factory is key to Tesla’s plans to introduce a affordable, mass market electric car in the next three years.

Musk also said that he expects SpaceX’s lawsuit against the Air Force, over the satellite launch bidding process, to be settled shortly.