DETROIT — In a bid to stay ahead of the curve, major automakers such as Toyota, Honda, and Porsche are investing heavily in space technology, a move that may seem unconventional but is driven by the growing need for connectivity and advanced navigation systems in the automotive industry.
The trend, which has gained momentum in recent years, is not just about launching cars into space, as Elon Musk's Tesla did in 2018. Instead, it's about tapping into the expertise and innovations of the space industry to improve the performance, safety, and efficiency of vehicles on Earth. Toyota, for instance, has invested $44 million in Japanese rocket maker Interstellar Technologies, which is focused on building rockets to launch satellites into space.
These satellites will play a crucial role in providing connectivity and navigation services for autonomous vehicles, which are becoming increasingly reliant on real-time data and precise location tracking. According to industry experts, the market for connected vehicles could reach $742 billion by 2030, with services such as advanced driver assistance systems and satellite-based navigation becoming key revenue streams for automakers.
Honda, another major player in the industry, is developing a proprietary reusable rocket to launch low-earth orbit satellites, which will enable the company to incorporate its core technologies, including combustion engines and vehicle guidance, into the rocket's development. Porsche SE, the holding company behind Porsche and Volkswagen, has invested in Munich-based rocket company Isar Aerospace, citing the importance of access to space for innovations in traditional industries.
The collaboration between the automotive and aerospace industries is not new, but it's gaining pace as companies seek to leverage each other's expertise and technologies. Quincy Edmund Lee, founder of EV charging company Electric Era and former SpaceX employee, notes that the exchange of ideas and best practices between the two industries has been beneficial for both parties. "I've seen the benefits that come from aerospace and automotive collaboration firsthand," Lee said.
As the automotive industry continues to evolve, it's likely that we'll see more investments in space technology and greater collaboration between carmakers and space companies. With the potential for significant revenue growth and improved safety and efficiency, the sky's no longer the limit for the automotive industry.
As the intersection of space and automotive technologies continues to evolve, it's clear that the future of transportation will be shaped by innovations from beyond our planet. The incorporation of lidar technology, a technology that enables spacecraft to land safely on the moon and Mars, into autonomous vehicles is a prime example of the benefits of technology crossover. This crossover not only enhances the safety of vehicles but also demonstrates the significant potential for advancements in one industry to positively impact another.
In conclusion, the convergence of the space and automotive industries is a trend that is poised to revolutionize the way we travel and interact with vehicles. As seen in Lee's discussion about integrating Starlink technology into EV charging stations and the exchange of personnel between companies, the collaboration between space and automotive companies is already yielding exciting innovations. The strategic investments made by automakers in space ventures may seem like a small drop in the bucket, but they have the potential to spark a new era of technological advancements.
As the narrator aptly puts it, "Then space is a natural domain for [automakers] to explore." As we look to the future, it's clear that the possibilities for growth and innovation at the intersection of space and automotive technologies are endless. With the likes of Tesla, SpaceX, and Electric Era pushing the boundaries of what's possible, we can expect to see even more groundbreaking developments in the years to come. The future of transportation is not just about getting from point A to B; it's about exploring new frontiers and redefining what's possible. The convergence of space and automotive technologies is just the beginning of an exciting new chapter in human innovation.
