Following Akio Toyoda’s announcement of his stepping down as CEO of Toyota, he shared insights on his business philosophy and future directions for the company. One significant initiative discussed is Toyota’s foray into space exploration through its “Woven by Toyota” mobility venture. The automaker is investing 7 billion Japanese yen ($44.4 million) in Interstellar Technologies Inc., a Japanese private spaceflight company specializing in satellite launch vehicles. Toyoda emphasized that the future of mobility extends beyond Earth, advocating for a diverse set of companies, not just Tesla, to engage in rocket development.
Interstellar Technologies, founded in 2013, has conducted several rocket launches, although it has yet to place a satellite into orbit. Toyota plans to apply its mass production expertise to assist in rocket production. In the Japanese space market, Toyota competes with Mitsubishi and its H3 series rockets, which aim to rival SpaceX’s Falcon 9.
Additionally, Toyota announced the completion of the first phase of Woven City, a prototype city to test innovative technologies like autonomous vehicles, located at the base of Mt. Fuji. Toyoda noted that Woven City is intended as a testing ground rather than a profit-driven venture.
