SpaceX would also use the new rocket system to run missions to the Moon, with US Vice President Mike Pence recently hinting that NASA may return there soon.
Musk had planned to use a convoy of vehicles to colonise Mars, starting with an unmanned capsule called Red Dragon in 2018. Oh, and he also offered up some peeks at the company's plans for moon and Mars bases.
The 46-year-old unveiled the combo rocket and spaceship at the same conference last year, but announced a stripping back of the BFR to contain fewer main engines, 31 - while he also released a concept video showing the spacecraft's potential journey between NY and Shanghai.
"There's no weather. and you can get to most long-distance places in less than half-an-hour".
The concept is that while on its way to Mars the rocket will make a pitstop at another large city, like Shanghai, and drop off the travellers not leaving the planet.
Musk also had ideas for the financing of some of the plan.
Musk opened his speech by talking about how the future is "vastly more exciting and interesting if we're a multiplanet species".
Elon Musk wants to introduce rockets as a way to travel from city to city. "Mars? Heard the weather's great this time of year". Musk said that he aims to make this happen with customers paying same as what they do for a full fare economy for an aircraft.
"It would be quite fun to be on Mars because you would have gravity that is about 37% of that of Earth, so you would be able to lift heavy things and bound around", he had said earlier.