SILICON VALLEY -- Japanese materials maker Toray Industries has agreed to supply carbon fiber to U.S. startup SpaceX for use in the bodies of rockets and space vehicles.
The multiyear deal with Tesla founder Elon Musk's 14-year-old venture is estimated to be worth 200 billion yen to 300 billion yen ($1.99 billion to $2.98 billion) in total. The two sides are aiming to finalize the agreement this fall after hammering out prices, time frames and other terms.
