The Porsche dynasty appears to be joining the space race to compete with Blue Origin, SpaceX and Virgin Galactic, after the luxury car manufacturer acquired a stake in a German start-up Isar Aerospace.

The Ottobrunn-based rocket firm is focused on developing and managing launch vehicles to transfer satellites into orbit around Earth. Porsche has reportedly invested $75 million, which, the automaker said, represents a ‘low single-digit percentage stake’ in the German firm.

READ MORE: Jeff Bezos offers NASA $2 billion to get moon mission contract he lost to Elon Musk

RT’s Boom Bust talked with Aaron Pagel of DePaul University to find out how successful the car producer could be in the crowded market of small satellite launches.

For more stories on economy & finance visit RT’s business section

Source: RT