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yesterday

Joby Aviation Secures $250 Million from Toyota to Accelerate eVTOL Certification

The tranche underwrites FAA certification, marking significant progress toward Joby’s commercial air taxi launch

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Toyota branded Joby Aviation electric eVTOL air taxi in Japan
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Overview

  • Joby closed the first $250 million tranche of Toyota’s $500 million strategic investment for its electric air taxi program.
  • Toyota’s payment is earmarked to support FAA type inspection authorization and ramp up commercial production of Joby’s eVTOL aircraft.
  • CEO JoeBen Bevirt said collaboration with Toyota has streamlined manufacturing processes and optimized aircraft design.
  • Joby has completed crewed transition flights and is advancing through FAA certification steps toward a commercial launch by the end of 2025.
  • Joby shares climbed 13% Wednesday, reflecting investor optimism in the face of competition from Archer Aviation and United Airlines’ airport air taxi initiatives.