Toyota Increases Investment in Joby Aviation

Toyota is investing an additional $500 million into Joby Aviation, bringing its total investment in the electric air taxi company to $894 million. This investment, split into two tranches, will support Joby's efforts to complete its FAA certification and ramp up commercial production, aiming to launch its air taxi service by 2025. Toyota's involvement extends beyond financial backing, with its engineers working closely with Joby on manufacturing processes and the supply of key components. Joby has made significant progress, having rolled out its third aircraft and starting construction on expanded facilities. The partnership, built over nearly seven years, reflects a shared vision for the future of sustainable air travel. Joby's shares surged following the investment announcement, highlighting market confidence in the company's potential.