adminToyota is looking into building rockets. The company is investing 7 billion yen ($44.4 million) in Interstellar Technologies Inc., a Japanese startup that makes launch vehicles for satellites. This investment is part of Toyota’s “Woven by Toyota” mobility initiative.
Chairman Akio Toyoda explained that there shouldn’t be only one car company, like Tesla, working on these technologies. He said, “We are exploring rockets too, because the future of mobility shouldn’t be limited to just earth or just one car company.”
Interstellar Technologies started in 2013 and has launched its small MOMO rockets seven times, reaching space for the first time in 2019. However, the startup hasn’t yet put a satellite into orbit. It plans to build larger rockets called ZERO and DECA for launching spacecraft.
Toyota expects to use its experience in mass vehicle production to help make rockets with Interstellar Technologies. In Japan’s launch market, Toyota will compete with Mitsubishi, which has developed the H3 rocket for JAXA, Japan’s space agency. The H3 rocket was delayed but aims to be priced competitively with SpaceX’s Falcon 9 rockets, which lead the global launch market.
Additionally, Toyota announced that the first phase of Woven City is complete. This phase includes housing for residents and inventors who Toyota is inviting to the area. Woven City, announced five years ago by Toyoda at CES, is a 175-acre prototype city at the base of Mount Fuji in Japan. It aims to test new technologies like autonomous vehicles.
Toyoda said Woven City is not about making money. Instead, it serves as a testing ground for future technologies.
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