Experience the future of air travel with Joby Aviation as Toyota Motor Company announces an additional $500 million investment in the innovative electric air taxi project. Joby aims to revolutionize urban transportation with its vertical take-off and landing air taxis, set to transform cities worldwide.
This latest investment solidifies Toyota’s commitment to Joby Aviation, following a previous $394 million contribution. The total investment now stands at an impressive $894 million, showcasing the shared vision for sustainable flight between the two companies.
The funding will be provided in two installments, pending regulatory approval, with the first portion expected later this year and the remainder by 2025. JoeBen Bevirt, founder and CEO of Joby Aviation, expressed gratitude for Toyota’s ongoing support and emphasized their collaborative efforts towards shaping the future of air travel.
Joby Aviation has made significant strides towards commercialization, unveiling its third aircraft from the pilot production line in California. The company has also commenced construction on an expanded facility that will double its manufacturing capacity.
Toyota’s engineers are actively engaged with Joby’s team in California as part of a long-term agreement signed in 2023. This partnership includes Toyota supplying essential powertrain components for Joby’s aircraft production.
Tetsuo “Ted” Ogawa from Toyota Motor North America highlighted their excitement for Joby’s certification process and transition to commercial production. Both companies share a common goal of addressing current mobility challenges through sustainable flight solutions.
Witness innovation take flight as Joby Aviation paves the way for a new era in urban transportation.
Toyota
2024-11-05 17:15:03
Article from www.ibtimes.com