Toyota Motor Corporation is making a significant move into the space industry with a $44.4 million investment in Interstellar Technologies, a Japanese spaceflight company. This partnership aims to capitalize on the growing demand for small satellite launches and bolster Japan's position in the space launch market.
Toyota Motor is venturing into the space industry with a nearly $45 million investment, stating that the exploration of rocket launches should not be confined to a single car company. Chairman Akio Toyoda announced that the carmaker is investing $44.4 million, or 7 billion yen, into Interstellar Technologies, a private Japanese spaceflight company. Toyoda emphasized that the future of mobility should not be limited to Earth or a single automotive company, alluding to Tesla.
This partnership between Toyota's Woven by Toyota brand and Interstellar aims to address the rising demand for small satellite launches and enhance Japan's presence in the launch market. Interstellar pointed out that in 2023, the US conducted 116 satellite launches, China 63, while Japan only managed three launches. Woven by Toyota CEO Hajime Kumabe expressed the company's hope to utilize its mass production expertise to accelerate rocket production and further propel mobility transformation. Interstellar Technologies, established in 2013, has conducted seven launches of its small suborbital MOMO rockets, which reached space for the first time in 2019. Although the startup hasn't yet deployed a satellite into orbit, it plans to develop larger rockets, ZERO and DECA, an orbital launch vehicle and a heavy-lift vehicle, respectively, to meet the demands of the 2030s, according to its website. In the Japanese market, Toyota is competing with Mitsubishi, which through its subsidiary, Mitsubishi Heavy Industries, developed and launched the H3 series of rockets for JAXA, Japan's space agency
SPACE INDUSTRY TOYOTA INVESTMENTS INTERSTELLAR TECHNOLOGIES SATELLITE LAUNCHES MOBILITY
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