Toyota Motor Corporation is investing about $45 million to enter the space industry, and insists it's not just “one car company” considering a rocket launch.
On Monday, during CES 2025, a major technology trade show in Las Vegas that brings together the latest equipment, Chairman Akio Toyoda announced that the automaker will invest $44.4 million, or 70%, in Japanese private spaceflight company Interstellar Technologies. He announced that he is investing 100 million yen.
“We're also researching rockets. And what's more, the future of mobility shouldn't be limited to just Earth or just one car company,” said Toyoda, a former automaker chief executive. he said Monday, referring to Tesla Inc.'s billionaire CEO Elon. Mr. Musk and his SpaceX venture.
Toyota shares rose 1.4% Tuesday morning.
The partnership between Toyota's Woven by Toyota brand and Interstellar is an attempt to meet the growing demand for small satellite launches and to enhance Japan's launch advantage as a spaceflight company. stated in a statement.
In 2023, the United States carried out 116 satellite launches and China 63, while Japan carried out only three satellite launches in the same year, Interstellar added.
Woven By Toyota CEO Hajime Kumabe said the company wants to use its mass production capabilities to “advance rocket production and further drive the transformation of mobility.”
Founded in 2013, Interstellar has led seven launches of small suborbital MOMO rockets, reaching space for the first time in 2019.
According to the company's website, the company has not yet deployed a satellite into orbit, but is working on larger rockets ZERO and DECA (orbital-class launch vehicle and There are plans to develop a cargo transport vehicle.
In the Japanese market, Toyota will face off against Mitsubishi Motors.
Mitsubishi Heavy Industries, a subsidiary of the automaker, developed and launched the H3 series rocket for Japan's space agency JAXA.
Mitsubishi's H3 rocket, built for use in government-funded missions, was launched several years behind schedule.
Mitsubishi Heavy Industries hopes the rocket will win launch orders from private sector and international customers, making it a direct competitor to SpaceX's Falcon 9 rocket, which dominates the market.
At CES 2025 on Monday, Toyota also revealed the completion of the first phase of Woven City, a “prototype city of the future” that was first announced five years ago.
The 175-acre site, located at the base of Japan's Mount Fuji, currently includes housing for residents and invite-only investors.
The automaker's chairman said Woven City's purpose is not to make money, but to serve as a test track for emerging technologies such as self-driving cars.
