Toyota announced today that it has entered a partnership with Joby Aviation, Inc. It plans to invest an additional $500 million to support the certification and commercial production of Joby’s electric air taxi, with the ultimate goal being to realize the two companies’ shared vision of air mobility.
Joby’s electric air taxi can currently achieve a top speed of 200mph, travel 150 miles on a full charge, and is 100 times quieter than a conventional aircraft. The $500-million investment will be split into two equal payments, and will bring Toyota Motor Corporation’s total investment in Joby to $894 million. The payments will come in the form of cash for common stock, with the first tranche targeted to close later this year and the second in 2025.
- Lightweight and Regulation Friendly - At just 135g, DJI Neo may be even lighter than your phone and does not require FAA registration and Remote ID....
- Palm Takeoff & Landing, Go Controller-Free [1] - Neo takes off from your hand with just a push of a button. Neo's safe and easy operation makes it...
- Subject Tracking & QuickShots - Effortlessly capture stunning vlogs as DJI Neo smartly follows you. Getting professional footage has never been easier...
With this additional investment, we are excited to see Joby certify their aircraft and shift to commercial production. We share Joby’s view that sustainable flight will be central to alleviating today’s persistent mobility challenges,” said Tetsuo ‘Ted’ Ogawa, who signed the agreement as the Operating Officer on behalf of Toyota Motor Corporation.
