Toyota has announced a substantial investment of 7 billion Japanese yen ($44.4 million) into Interstellar Technologies Inc., a Japanese private spaceflight company. This strategic move, conducted through Toyota’s “Woven by Toyota” mobility company, signals the automotive giant’s foray into the burgeoning space industry. With this investment, Toyota aims to leverage its extensive experience in mass vehicle production to contribute to the development and production of rockets, further expanding its technological horizons beyond terrestrial confines.
Interstellar Technologies, known for developing launch vehicles for satellites, has embarked on several missions with its small suborbital MOMO rockets, reaching space for the first time in 2019. Despite achieving significant milestones, the company has yet to deploy a satellite into orbit. However, it has ambitious plans to develop the larger ZERO and DECA rocket lines for delivering spacecraft, marking a pivotal step toward more substantial space ventures.
The investment is channeled through Woven by Toyota, a mobility company situated on a 175-acre site at the foot of Mt. Fuji in Japan. This entity was unveiled five years ago as a “prototype city of the future” by Toyota’s Chairman Akio Toyoda at CES. Woven City serves as an experimental proving ground for emerging technologies such as autonomous vehicles. It has recently completed its first phase, including housing for residents and inventors, solidifying its role as a testbed for futuristic innovations.
Toyota’s move into the space domain appears to be a strategic maneuver to rival Mitsubishi Heavy Industries, which has already established itself in the Japanese launch market with the development and launch of the H3 series of rockets for JAXA. By investing in Interstellar Technologies, Toyota is positioning itself as a significant player in the space race, potentially reshaping the competitive landscape of Japan’s aerospace industry.
Chairman Akio Toyoda emphasized the broader vision behind Woven City’s initiatives, stating:
“We are exploring rockets too, because the future of mobility shouldn’t be limited to just earth or just one car company, for that matter.” – Akio Toyoda
This perspective underscores Toyota’s commitment to pushing the boundaries of mobility and technology, not just within automotive realms but extending into aerospace territories.
Featured image courtesy of The Star
