Joby Aviation, a company that is developing electric air taxis for commercial passenger service, announced the closing of the first $250 million tranche of a previously announced strategic investment from Toyota. This funding marks a significant milestone in strengthening the long-term collaboration between the two companies and supports their shared vision for the future of air mobility.
This investment is aimed at supporting certification and commercial production of Joby’s electric air taxi. And this deal underscores the mutual commitment to deepening integration and delivering next-generation travel to global markets. This funding also puts the two companies a step closer toward a strategic manufacturing alliance.
KEY QUOTES:
“We’re already seeing the benefit of working with Toyota in streamlining manufacturing processes and optimizing design. This is an important next step in our alliance with Toyota to scale the promise of electric flight. With this capital and Toyota’s legendary production expertise, we’re enhancing our ability to scale cutting-edge design and manufacturing to meet the demands of our partners and customers.”
JoeBen Bevirt, founder and CEO of Joby
“This milestone further cements the collaboration and alignment between our two companies. Our investment in Joby reflects our shared dream of mobility for all and our commitment to achieving a future of air mobility.”
Tetsuo “Ted” Ogawa, CEO of Toyota North America
