Summary:
Toyota invests $44.4 million into Interstellar Technologies for rocket development.
Chairman Akio Toyoda emphasizes the need for diversity in the mobility sector.
Interstellar Technologies has launched seven rockets since its founding in 2013.
Toyota aims to apply its mass production expertise to aerospace.
The company is competing with Mitsubishi in the Japanese launch market.
Toyota Explores Rocket Development
Toyota Motor is making waves in the aerospace sector by investing 7 billion Japanese yen (approximately $44.4 million) into Interstellar Technologies, a Japanese startup focused on developing launch vehicles for satellites. Chairman Akio Toyoda announced this initiative during a press conference at the Consumer Electronics Show in Las Vegas, emphasizing that the future of mobility should extend beyond traditional vehicles.
Toyoda remarked, "There shouldnât only be one car company" in the space race, indirectly referencing Tesla and its CEO Elon Musk, who also leads SpaceX. This move signals Toyota's ambition to diversify its portfolio and challenge competitors in the burgeoning space launch market.
Interstellar Technologies Overview
Founded in 2013, Interstellar Technologies has conducted seven launches of its suborbital MOMO rockets, reaching space for the first time in 2019. Although the startup has yet to successfully deploy a satellite into orbit, it is working on larger rocket models, including the ZERO and DECA series, aimed at delivering spacecraft.
Toyota plans to leverage its extensive experience in mass vehicle production to assist in the rocket manufacturing process alongside Interstellar Technologies.
Competing in the Japanese Launch Market
In this venture, Toyota is positioning itself against Mitsubishi, whose subsidiary, Mitsubishi Heavy Industries, has developed the H3 series of rockets for Japan's space agency, JAXA. The H3 rockets were designed to be competitively priced against SpaceX's Falcon 9, which currently dominates the global launch market.
Woven City Initiative
In addition to its rocket plans, Toyota announced the completion of the first phase of Woven City, a prototype city at the base of Mt. Fuji. This innovative urban space aims to test and develop new technologies, including autonomous vehicles. The mission of Woven City is to serve as a test course rather than a profit-generating venture, inviting residents and inventors to collaborate on future technologies.
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