China’s Taobao working with startup on deliveries by reusable rocket By Reuters

SHENZHEN, China (Reuters) – Chinese rocket maker Space Epoch is working on it Ali Baba (NYSE:) online shopping platform Taobao to develop reusable rockets to send products that can reach around the world in an hour, Space Epoch announced Sunday.

The project is in preliminary testing and aims to build a rocket that can carry ten tons of cargo in a 120 cubic meter container, Space Epoch said in a statement posted on its official WeChat account.

Alibaba did not immediately respond to a request for comment.

Beijing-based Space Epoch is looking to use its ‘Yuanxing-1’ rocket, which completed a test run and relaunched at sea last year.

The company will conduct a test delivery of the rocket in the near future, realizing that achieving its goals will not be easy in the short term.

President Xi Jinping has called for the expansion of the technology industry including the commercial sector, which is seen as the key to building constellations of satellites for communications, remote sensing and navigation.

Last year saw 17 Chinese commercial launches and one failure, among the 67 new records set by China. This was based on 10 commercials launched in 2022, including two failures.

Space Epoch earned 200 million yuan ($27.70 million) in its third fiscal quarter last November.

($1 = 7.2203 coins)

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