17 January 2020: Toyota has collaborated with Joby Aviation (Joby) to explore a new flight path for mobility. Joby Aviation is known for developing and commercialising all-electric vertical take-off and landing (eVTOL) aircraft to enable the deployment of fast, quiet and affordable air transportation services.
The partnership shows Toyota's recognition of the long-term potential of the urban air mobility market to meet the evolving needs of society, as well as Joby's position in working to deliver safe and affordable air travel to everyone.
By being the lead investor in Joby's $590M Series C financing, Toyota is continuing to leverage emerging technologies to provide "Mobility for All."
Toyota has invested $394M in Joby and will share its expertise in manufacturing, quality and cost controls for the development and production of Joby Aviation's breakthrough eVTOL aircraft.
Joby's design is well matched to aid the needs of a new air transportation market where commuters and travelers embrace the benefits of aviation on a daily basis within and between urban centers. More details of the prototype aircraft and production plans will be announced at a later date.
Joby Aviation founder and CEO JoeBen Bevirt said: "This collaboration with Toyota represents an unprecedented commitment of money and resources for us, and for this new industry, from one of the world's leading automakers. Toyota is known globally for the quality and reliability of their products driven by meticulous attention to detail and manufacturing processes. I am excited to harness Toyota's engineering and manufacturing prowess to drive us toward our dream of helping a billion people save an hour commuting time every day."
Shigeki Tomoyama the Executive Vice President of Toyota Motor Corporation will join Joby's board of directors and play an active role in setting strategic direction at the Board level.