Toying With the Cosmos: Toyota's $44 Million Bet on Space Tech
Toyota, the renowned car manufacturer, is stepping out of its comfort zone and venturing into the Final Frontier. This time, it's not just about roads, but rockets. Toyota's subsidiary, Woven, is investing 7 billion yen (approximately $44.4 million) into Japanese space startup Interstellar Technologies. This investment was announced this week, signaling Toyota's entry into the burgeoning space industry.
Akio Toyoda, the chairman of Toyota, shared his vision during a presentation at CES in Las Vegas. He expressed that the future of mobility should not be confined to Earth or a single car company, subtly hinting at Tesla's SpaceX, which is also in the business of rockets.
The partnership between Toyota and Interstellar aims to boost the rocket startup's production capabilities to cater to the growing demand in the satellite launch industry. Interstellar's CEO, Takahiro Inagawa, stated that Woven by Toyota will help Interstellar evolve from one-of-a-kind rocket manufacturing to a scalable supply chain, thereby bringing their vision of 'a future where everyone can access space' to life.
Interstellar, established in 2017, became the first private company in Japan to launch a rocket. Although the first attempt was unsuccessful, a successful test launch followed in 2019, carrying a payload to the edge of space. Toyota has been collaborating with Interstellar since 2020, providing engineering resources to help the rocket startup reduce manufacturing costs and work towards mass production of its launch vehicles.
Toyota is also constructing Woven City, a futuristic city prototype at the base of Mount Fuji in Japan. This city will serve as a testbed for innovative products and services. Toyota has also shown interest in establishing a telecommunications network similar to SpaceX's Starlink to support Woven City. The CEO of Woven by Toyota, Hajime Kumabe, noted that when it comes to constantly moving cars, appropriate telecommunications are essential.
Leveraging Toyota's investment, Interstellar may aim to leverage access to a reliable and cost-effective launch vehicle for deploying communications satellites into orbit. This strategy mirrors SpaceX's business model, which uses its Falcon 9 rockets to launch batches of Starlink satellites to orbit. If Toyota's rockets are anything like its cars, Japan might just have a reliable and cost-effective vehicle to space in the future.
The investment in Interstellar Technologies aligns with Toyota's broader vision for future mobility. Toyota is exploring all avenues of transportation, including space, demonstrating its determination to innovate and lead in transportation technologies. The partnership will enable Toyota to drive innovation and efficiency in rocket and satellite manufacturing, thereby contributing to the growth of Japan's private space industry. This strategic move also places Toyota in direct competition with global giants like SpaceX, further solidifying its position in the space industry.
The collaboration between Toyota and Interstellar Technologies could lead to the development of affordable and reliable launch vehicles for deploying communications satellites, emulating SpaceX's business model. Toyota's chairman, Akio Toyoda, envisions a future where mobility extends beyond Earth, aligning with Interstellar's vision of universal access to space.
