Joby Aviation ($JOBY) Receives New $500 Million Investment from Toyota ($TM) for eVTOL Production

Green Stock News

Joby Aviation (NYSE: JOBY) has received an additional $500 million investment from Toyota (NYSE: TM) to support certification and production of its electric air taxis. This brings Toyota’s total investment in Joby to nearly $900 million. Toyota’s ongoing involvement, dating back to 2019, includes monetary support and shared expertise in production methods. Toyota also supplies key components for Joby's aircraft as part of a long-term agreement.

Joby continues to make important progress towards commercialization, recently rolling its third aircraft off its pilot production line in Marina, California, and breaking ground on an expanded facility in California that will more than double the Company's manufacturing footprint. In August 2024, it confirmed that the fourth of five stages of the type certification process is now more than one-third complete on the Joby side.

JoeBen Bevirt, founder and CEO, Joby Aviation stated: "The knowledge and support shared by Toyota have been instrumental in Joby's success and we look forward to deepening our relationship as we deliver on our shared vision for the future of air travel."

Joby Aviation is a California-based transportation company producing an all-electric, eVTOL air taxi that will revolutionize the way we travel.

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