Automotive giant Toyota<\/b> is investing in Japanese rocket startup Interstellar Technologies<\/b> as part of its vision for the future of mobility. <\/p>\n
Woven by Toyota<\/b> (WbyT), the mobility arm of Toyota Motor Corporation, announced the 7 billion yen ($44.3 million) investment into Interstellar on Jan. 7. Akio Toyoda, chairman of the Toyota board of directors, spoke at CES on Jan. 6 about the company\u2019s \u201cWoven City,\u201d a city in Japan designed as a testbed for future mobility technologies. <\/p>\n
WbyT is the lead investor in the first close of Interstellar\u2019s Series F round and is expected to provide additional funding with the second close of the Series F round. WbyT will also provide Interstellar with a corporate director. <\/p>\n
Toyota has collaborated with Interstellar since 2020 through personnel exchanges. Interstellar said this new agreement goes further, and the companies plan to work together to strengthen the supply chain to achieve mass rocket production. <\/p>\n
\u201cWoven by Toyota is the ideal partner to help us evolve our rocket production from one-of-a-kind manufacturing to a scalable supply chain,\u201d Interstellar CEO Takahiro Inagawa said in a statement. \u201cAfter years of talent exchange since 2020, we are now able to strengthen our collaboration to the next level.\u201d <\/p>\n
Interstellar is working to establish launch capabilities in Japan, which will support the Japanese government\u2019s target to secure a domestic launch capacity of around 30 launches annually by the early 2030s.<\/p>\n
\u201cToyota continues its transformation into a mobility company by embracing challenges in land, sea, and air mobility. Now, we are excited to collaborate with Interstellar Technologies on the mass production of rockets,\u201d commented Woven by Toyota CEO Hajime Kumabe. \u201cThis business alliance will leverage the Toyota Group\u2019s extensive manufacturing capabilities and combine our expertise to advance rocket production and further drive mobility transformation.\u201d <\/p>\n
Chairman Toyoda mentioned the investment in rockets during his address at CES. <\/p>\n
\u201cWe think of Woven City as a test course for mobility where we can develop any number of solutions,\u201d Toyoda said. \u201cWe\u2019re exploring rockets too, because the future of mobility shouldn\u2019t be limited to just Earth \u2014 or just one car company for that matter!\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"
Automotive giant Toyota is investing in Japanese rocket startup Interstellar Technologies as part of its vision for the future of mobility. Woven by Toyota (WbyT), the mobility arm of Toyota Motor Corporation, announced the 7 billion yen ($44.3 million) investment into Interstellar on Jan. 7. Akio Toyoda, chairman of the Toyota board of directors, spoke […]<\/p>\n","protected":false},"author":1,"featured_media":49904,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-49903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/49903"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=49903"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/49903\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/49904"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=49903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=49903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=49903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}