Why Are Honda and Toyota Trying to Compete With SpaceX?

It's only March, and we already we have a blue-ribbon winner for the most unexpected business news of 2025. According to CNBC, carmakers including Honda Motor Co. (NYSE: HMC), Toyota Motor Corporation (NYSE: TM), and China's Geely Holding (owner of the Volvo Cars and Polestar brands) are all now investing in...rockets. Wild though it sounds, these three automotive companies have collectively sunk more than $300 million into the twin space businesses of rocket design and satellite manufacturing.As the saying goes: "I did not have that on my bingo card."Since 2019, Honda has been developing what CNBC calls a "proprietary reusable rocket." Toyota made a $44 million investment in Japanese rocket start-up Interstellar Technologies earlier this year. Geely, meanwhile, is investing $326 million in satellite manufacture.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool