Overview

• The payment represents the first half of a $500 million strategic investment and brings Toyota’s total commitment toward Joby close to $1 billion.
• Joby will apply the funding toward FAA type certification and scaling commercial production of its four-seat eVTOL aircraft designed to cruise at nearly 174 knots.
• Under the agreement, Toyota gains preferred rights for low-volume manufacturing as well as maintenance, repair and overhaul operations, including potential deployment in Japan.
• Joby recently completed simultaneous dual-aircraft test flights in California, demonstrating progress toward its commercial readiness goals.
• Partnerships with Delta Air Lines and Uber aim to launch Joby’s air taxi service in New York and Los Angeles in 2025, pending FAA approval.