January 7 (UPI) — Toyota Motor Corporation is investing $44.4 million in Japan-based Interstellar Technologies to help the private spaceflight company develop rockets to launch satellites into Earth’s orbit.
Toyota Chairman Akio Toyoda announced the automaker’s intention to invest in Interstellar Technologies on Monday at the annual Consumer Electronics Show in Las Vegas.
While discussing Toyota’s investments in various technologies, Toyota briefly discussed the company’s latest venture in the field of civil spaceflight.
“There are no limits to what is possible when we work together,” Toyota told CES attendees and media. “Speaking of the skies, we’re also exploring rocketry.”
“The future of mobility should not be confined to just the planet or one car company,” he said, TechCrunch and Proactive Investors reported.
The investment will mark Toyota Japan’s second automaker into space.
Car manufacturer Mitsubishi developed the H3 rocket for the Japanese space agency JAXA.
Toyota shared renderings of its rocket design while addressing CES attendees.
Toyota’s space partner, Interstellar Technologies, is developing a small rocket that can launch satellites into orbit.
Engineers from Toyota and Interstellar Technologies are seeking to develop a space-based communications network to support Toyota Woven City, a 175-acre prototype city located at the foot of Mount Fuji in Japan.
Toyota announced that Phase 1 of Toyota Woven City will be completed and activated in the fall.
According to Toyota, Woven City is a “mobility testing course” that allows inventors to develop, test and validate innovative products and services that “drive innovation and create a better tomorrow.”
