Why Automakers Like Toyota And Honda Are Investing In Rockets And Satellites

In January, Toyota, through its mobility software subsidiary company “Woven by Toyota”, announced that it was investing $44 million into Japanese rocket maker, Interstellar Technologies. Meanwhile Honda has been developing a proprietary reusable rocket since 2019. Chinese automaker and Tesla competitor Geely Holding Group has invested $326 million to manufacture its own satellites to support its autonomous vehicle buildout. With connected vehicles expected to represent a $742 billion annual revenue opportunity for automakers and suppliers globally by 2030, automakers are seeing access to space as an important investment for the future. Chapters: 1:01 Investments 4:13 Connected vehicles 6:44 Progress through collaboration Produced and edited by: Magdalena Petrova Animation: Jason Reginato, Christine Kim Senior Director of Video: Jeniece Pettitt Editorial Support: Katie Tarasov Additional Footage: Getty Images, Lockheed Martin Additional Sources: Via Satellite