Toyota Motor Corp. has invested $250 million in Joby Aviation Inc., solidifying its position as the largest shareholder in the air taxi manufacturer. This investment marks the first part of a total $500 million commitment, with Toyota pledging a total of $894 million in funding. The partnership aims to advance eVTOL aircraft technology for short commuter journeys, with Joby targeting commercial services in Dubai by 2026, pending FAA certification. This collaboration strengthens the ties between the two companies, demonstrating a shared vision for innovative transportation solutions.
Toyota’s $250 million investment reinforces its commitment to Joby Aviation, elevating its stake to 15.3% and making it the largest shareholder in the air taxi pioneer.
With an aim to boost funding to $894 million, Toyota's partnership with Joby signifies a crucial step forward in the development of eVTOL technology.
Collection
[
|
...
]