Toyota puts another $500 million in an air taxi startup

Toyota is investing an additional $500 million in Joby Aviation to aid the air taxi startup’s certification and commercial production of electric vertical takeoff and landing (eVTOL) aircraft for ride-hailing services.

This brings Toyota’s total investment to $894 million since 2018. The latest funding will be delivered in two $250 million tranches, with the first expected this year and the second in 2025.

Additionally, Toyota will form a manufacturing alliance with Joby, following a previous agreement to produce powertrain components for Joby’s air taxi, The Verge has reported.

read more: https://www.theverge.com/2024/10/2/24260176/toyota-joby-aviation-air-taxi-vtol-investment-stock

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