Jan. 7 (UPI) — The Toyota Motor Corporation will invest $44.4 million in Japan-based Interstellar Technologies to help the private spaceflight firm develop rockets to launch satellites into Earth’s orbit.
Toyota Chairman Akio Toyoda on Monday announced the automaker’s intent to invest in Interstellar Technologies during the annual Consumer Electronics Show in Las Vegas.
While discussing Toyota’s investments in many technologies, Toyoda briefly discussed the company’s latest venture in the field of private spaceflight.
“When it comes to what’s possible when you work together, the sky’s the limit,” Toyoda told CES attendees and media. “Speaking of the sky, we’re exploring rockets, too.”
He said the “future of mobility shouldn’t be limited to just Earth or one car company,” TechCrunch and Proactive Investors reported.
The investment would make Toyota Japan’s second automaker to venture into space.
Automaker Mitsubishi has developed the H3 rocket for the Japanese space agency JAXA.
Toyoda shared renderings of rocket designs while addressing CES attendees.
Toyota’s space partner Interstellar Technologies is developing a small rocket capable of launching satellites into orbit.
Engineers at Toyota and Interstellar Technologies want to develop a space-based telecommunications network to support Toyota Woven City, which is a 175-acre prototype city located in the foothills of Mount Fuji in Japan.
Toyoda announced the first phase of Toyota Woven City will be completed in the fall and become active.
Woven City is a “test course for mobility” to enable inventors to develop, test and validate innovative products and services that “drive innovation and shape a better tomorrow,” according to Toyota.
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