Toyota Motor Corporation has invested $500 million in Joby Aviation to boost the production of electric taxis for commercial use. Job Aviation announced that the funding will help with the certification of Joby’s air taxi and its commercial production, bringing the visions of both companies for air mobility one step closer.
JoeBen Bevirt said that the investment today builds on a collaboration between Joby Aviation and Joby Aviation that has lasted for nearly seven years.
We look forward to deepening this relationship as we work together to realize our shared vision of the future of air travel.
Toyota’s total investment in Joby will amount to $894 millions. Joby announced in August that it was only halfway through the fourth stage of certification.
Tetsuo Ogawa is the CEO of Toyota Motor North America. He said:
“With this investment, we’re excited to see Joby certifying their aircraft and shifting to commercial production.”
“We agree with Joby that sustainable flight is key to addressing today’s persistent mobility issues.”
The news of this investment comes only months after Joby acquired Xwing’s autonomous division in June to support its long-term aerial accessibility vision. Joby signed an accord in February to launch Dubai air taxi services by 2026. The company raised $590m in 2020.
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