Joby Aviation and Toyota Accelerate Efforts to Realize Air Mobility
New Investments and Collaboration to Advance eVTOL Aircraft Development and Commercialization
November 4, 2024 – Toyota Motor Corporation (Toyota) and Joby Aviation, Inc. (Joby) today announced they are accelerating their efforts to realize air mobility with new investments and expanded collaboration. Toyota will invest an additional $394 million in Joby, bringing its total investment in the company to $750 million. The companies will also work together to explore new areas of collaboration, including joint research and development, manufacturing, and go-to-market strategies.
This announcement represents a significant step forward in the partnership between Toyota and Joby, which began in 2019 with a $250 million investment from Toyota. Since then, the companies have worked closely to develop Joby’s all-electric vertical take-off and landing (eVTOL) aircraft, which is designed to provide fast, convenient, and affordable air transportation in urban and regional areas.
The additional investment from Toyota will be used to support Joby’s ongoing development and commercialization efforts. This includes finalizing the design of its eVTOL aircraft, completing the certification process with regulatory authorities, and ramping up production. Joby plans to launch commercial operations in 2025.
The expanded collaboration between Toyota and Joby will focus on exploring new areas of innovation and growth. The companies will jointly develop technologies and solutions to enhance the safety, efficiency, and accessibility of air mobility. They will also work together to create a seamless customer experience, from booking flights to boarding the aircraft.
“We are excited to expand our partnership with Joby and work together to bring air mobility to reality,” said Shigeki Tomoyama, President of Toyota. “Toyota is a global leader in automotive technology and manufacturing, and we believe that our expertise can help accelerate the development and commercialization of Joby’s eVTOL aircraft.”
“Toyota’s continued investment and collaboration are a testament to the strength of our partnership and the shared vision we have for the future of transportation,” said JoeBen Bevirt, Founder and CEO of Joby. “With Toyota’s support, we are confident that we can make air mobility a reality for millions of people around the world.”
The partnership between Toyota and Joby is a major milestone in the development of air mobility. It brings together two leading companies with complementary strengths and a shared vision for the future of transportation. Together, Toyota and Joby are working to make air mobility safe, accessible, and affordable for everyone.
Joby Aviation and Toyota Accelerate Efforts to Realize Air Mobility
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