In January, Toyota said its mobility software subsidiary “Woven by Toyota” was investing $44 million into Japanese rocket maker Interstellar Technologies. Rival Honda has been developing a proprietary reusable rocket since 2019 to launch low-earth orbit satellites to space. Chinese automaker Geely Holding Group, a Tesla competitor, has invested $326 million to manufacture its own satellites.
“What are those satellites going to be used for and what are they already being used for?” said Micah Walter-Range, president of consulting firm Caelus Partners. “Some of it is for improving navigation services for cars. Some of it’s for mapping. If you think about what’s going to be needed a little further down the road for autonomous vehicles, having full awareness of what’s going on on the road is incredibly valuable.”
Recent Comments