Toyota's Woven Enters Into Alliance With SpaceX's Interstellar; to Invest 7 Billion Yen in Series F funding

MT Newswires Live01-09 10:29

Toyota Motor's (TYO:7203) Woven has partnered SpaceX's Interstellar Technologies to advance space transportation solutions, which will see an investment of approximately 7 billion yen by Woven.

As the lead investor in Interstellar's Series F funding round, Woven will appoint a director to enhance corporate governance, according to a Tuesday statement on Interstellar's website.

The alliance aims to incorporate Toyota's manufacturing expertise to make rocket production more efficient and scalable.

This partnership comes as Japan seeks to expand its domestic launch capabilities to meet the rising demand for satellite launches globally.

Toyota shares declined nearly 2% in late-morning trade Thursday.

Price (JPY): $3011.00, Change: $-62, Percent Change: -2.02%

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