05/02/2014 06:09 GMT | Updated 05/02/2014 06:59 GMT

Mars Colony-Scale Rockets 'Could Be Ready In 10 Years' Says Elon Musk

The rocket technology to send "millions" of colonists to Mars could be ready in as little as 10 to 12 years, according to billionaire space entrepreneur Elon Musk.

The founder of Space X and Tesla told CBS in an interview that while many technical hurdles to sending permanent settlers to Mars remain intractably in place, some are starting to come together sooner than we thought.

"We need to develop a much larger vehicle, which would be a sort of Mars colonial transport system, and this would be, we’re talking about rockets on a bigger scale than has ever been done before. It will make the Apollo moon rocket look small," he told CBS.

He also said that his SpaceX company would be able to send manned crew to the Space Station within two years.

Check out the interview in the video above, and over at CBS.