Toyota's $500 Million Investment in Joby Aviation: Driving Innovation in Air Taxi Services

Strategic Investment for Future Mobility

Toyota is investing another $500 million in Joby Aviation to support the air taxi startup's certification and commercial production of eVTOL (electric vertical takeoff and landing) aircraft for use in a ridehailing service. This is part of a broader strategy to redefine urban transportation.

Investment Breakdown and Goals

• Total Investment: The automaker has now invested a total of $894 million since 2018.
• Funding Structure: The $500 million investment will come in two $250 million tranches to be completed by 2025.
• Manufacturing Alliance: Toyota will establish a manufacturing partnership with Joby for the first stage of commercialization.

Joby Aviation Overview

Founded in 2009 by JoeBen Bevirt, Joby Aviation initially attracted investor interest with a $100 million funding round in 2018, featuring participation from giants like Intel and JetBlue. This investment helped the company develop a prototype and conduct test flights.

Technology and Future Prospects

• Joby's all-electric aircraft is capable of vertical takeoff like a helicopter and transitioning to forward flight.
• The vehicle boasts a top speed of 200 mph and can travel 150 miles on a single charge.
• Joby's aircraft is advertised to be 100 times quieter than traditional aircraft.

With upcoming exhibition flights in Manhattan and a projected start of commercial passenger services in major cities like New York and Los Angeles by 2025, this investment could change the landscape of urban air mobility.