Toyota's remarkable $500 million investment in Joby Aviation will significantly bolster the development of electric air taxis, totaling $894 million in backing, to expedite FAA certification.
Joby Aviation, with over a decade of development, is now in the fourth phase of FAA certification, aiming to launch its commercial eVTOL taxi service by 2025.
The additional $500 million helps Joby double its manufacturing capacity, with plans for significant expansions in California, reflecting the strong demand for electric urban air mobility.
The partnership between Joby and Toyota began with significant investments, leading from Uber's offload of Elevate to a complex merger and strong backing that continues to expand.
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