Toyota Motor Corporation has announced an additional investment of $500 million in Joby Aviation, the US company developing electric air taxis . With this move, Toyota’s total investment in Joby amounts to $894 million, consolidating its strategic alliance for the certification and commercial production of these innovative electric aircraft.
Toyota and Joby strengthen their collaboration
The investment will be made in two equal parts, with the first tranche in 2024 and the second in 2025, with the aim of accelerating the commercialization of Joby’s air taxis . According to Toyota, this financial support also includes the development of a manufacturing alliance , which will allow Toyota’s experience in production and sustainability to be integrated with Joby’s technological advances.
The relationship between Toyota and Joby is not new, as the two companies have worked together for the past seven years. Toyota engineers have collaborated on the design of tooling and manufacturing methods for Joby’s aerial vehicles. This bond is now strengthened with Toyota supplying key components for the production of Joby’s electric aircraft.
Toyota supports certification and commercial production of Joby’s electric air taxi. Source: Toyota Motor Corporation
With this investment, Toyota reinforces its commitment to becoming a mobility company that relies on sustainable technologies. Tetsuo “Ted” Ogawa, Toyota’s chief operating officer, noted that electric flights will be essential to solving mobility challenges in large cities, highlighting the importance of this project for air mobility in the future.
Joby Aviation advances in the certification of its air taxis
For its part, Joby Aviation continues to advance in the certification process of its electric aircraft . In August 2024, the company reached more than a third of the fourth phase of certification, one of the last steps before being able to operate commercially. The third aircraft has already left the production line in California, and the project is expected to accelerate its development with the new manufacturing plant that will double the company’s current capacity.
This ambitious air mobility project seeks to transform urban transport by offering fast, quiet and sustainable flights for passengers in major cities around the world. With continued support from Toyota, Joby Aviation is emerging as one of the leaders in the electric air taxi sector.
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Source and photos: Toyota
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