SHENZHEN, China (Reuters) – Chinese rocket maker Space Epoch is collaborating with Alibaba Online trading platform (NYSE:) Taobao will produce reusable express delivery rockets that can be delivered worldwide within an hour, Space Epoch said on Sunday.
The project is in the early stages of testing and aims to develop a rocket capable of carrying up to ten tons of cargo in a container with a volume of 120 cubic meters, Space Epoch said in a message published on the official WeChat account on the social network.
Alibaba did not immediately respond to a request for comment.
Beijing-based Space Epoch plans to use its Yuanxing-1 rocket, which completed ignition and recovery tests at sea last year.
The company will test delivery of the rocket in the near future, noting that achieving its goals in the short term will not be easy.
President Xi Jinping has called for the expansion of strategic industries, including the commercial space sector, which is seen as key to building constellations of satellites for communications, remote sensing and navigation.
Last year there were 17 Chinese commercial launches, with one launch failure, among a new record 67 Chinese orbital launches. That’s up from 10 commercial launches in 2022, including two failures.
Space Epoch received 200 million yuan ($27.70 million) in its third round of funding last November.
($1 = 7.2203 yuan)