Toyota Motor (NYSE:TM) has announced plans to venture into orbital rocket development, Chairman Akio Toyoda revealed during the Consumer Electronics Show in Las Vegas.
The automaker is investing around $44.4 million into Interstellar Technologies, a Japanese private spaceflight company focused on satellite launch vehicles.
Toyoda stated: “The future of mobility shouldn’t be limited to just earth or one car company.”
The carmaker aims to channel its vehicle production expertise into rocket manufacturing, positioning Toyota in competition with Mitsubishi, which develops the H3 rocket series for Japan’s space agency, JAXA.
Additionally, Toyota marked progress on Woven City, a testing site for emerging technologies near Mount Fuji, emphasizing its commitment to innovation beyond traditional automotive ventures.