SpaceX CEO and founder Elon Musk said he will announce plans of transporting humans to Mars later this year.

At Reddit's "Ask Me Anything" chat session, one of the comments posted inquired about his plans to send colonists to the Red Planet. The billionaire replied he hopes to unveil the Mars transport system towards the end of 2015.

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While the news excited many, he noted that it was a good thing that they delayed the plan.

"Good thing we didn't do it sooner, as we have learned a huge amount from Falcon and Dragon," Musk said, citing the rocket and capsule of to be used in space missions.

When asked about his plans for SpaceX spacesuit, Musk said they will also present the design later this year. He added they are putting a lot of effort into aesthetics, trying to achieve a 21st century look apart from making the suit work well.

These were among the 26 questions Musk answered from the 6,200 posted.

The Falcon mission is expected to connect with the International Space Station (ISS) on Thursday and unload supplies under the deal with NASA, according to reports.

After that, Falcn will attempt to soft-land the first stage of the rocket on an ocean platform.

Musk commented the landing only has a 50 percent chance of success. When a Redditor asked why, he answered, "I pretty much made that up. I have no idea," adding a smiley.

Musk is a 43-year old technocrat widely noted for his grand plans and innovations. He's also the CEO of Tesla Motors, an electric car company and chairman of a solar power company, SolarCity.

TagsSpaceX, Mars, Elon Musk, NASA