Toyota is venturing into the space industry, marking a significant shift in its technological ambitions. The company announced a substantial investment of 7 billion yen ($44.4 million) through its subsidiary Woven by Toyota in Interstellar Technologies Inc., a Japanese startup focused on satellite launch rockets. This move positions Toyota to compete in the space exploration sector, traditionally dominated by companies like SpaceX, led by Tesla's CEO Elon Musk.
Interstellar Technologies, founded in 2013, has conducted seven launches of its small-scale MOMO rockets, achieving its first space entry in 2019. The startup aims to develop larger rockets, the ZERO and DECA series, to deploy satellites into orbit. Toyota plans to leverage its expertise in mass production to aid in rocket manufacturing, competing against Mitsubishi Group, which collaborates with the Japan Aerospace Exploration Agency (JAXA) on the H3 rocket series.
In addition to its space endeavors, Toyota is making strides with its "Woven City" project, a smart city initiative announced at CES 2021. Situated at the base of Japan's Mount Fuji, this $10 billion project is envisioned as a "living laboratory" for testing autonomous vehicles and other emerging technologies. The first phase is complete, with the city set to officially launch in 2025. Toyota plans to welcome its first 100 residents, primarily employees of Toyota or its subsidiaries, this fall, eventually expanding to 360 residents, including external innovators and their families.
