Author: Green Stock News – Duration: 00:01:58

Joby Aviation (NYSE: JOBY) has received an additional $500 million investment from Toyota (NYSE: TM) to support the certification and production of its electric air taxis. This brings Toyota’s total investment in Joby to nearly $900 million. Toyota’s ongoing involvement, dating back to 2019, includes financial support and shared expertise in production methods. Toyota is also supplying key components for Joby’s aircraft under a long-term agreement. Joby continues to make significant progress toward commercialization, recently rolling its third aircraft off its pilot production line in Marina, Calif., and breaking ground on an expanded factory in California that will more than double the footprint manufacturing of the company. In August 2024, it confirmed that the fourth of five stages of the type certification process is now more than a third complete on Joby’s side. JoeBen Bevirt, Founder and CEO of Joby Aviation said: “The knowledge and support shared by Toyota has been instrumental in Joby’s success and we look forward to deepening our relationship as we realize our shared vision of the future of air transport. Joby Aviation is a California-based transportation company producing an all-electric eVTOL air taxi that will revolutionize the way we travel. Joby Aviation shares trade on the New York Stock Exchange under the symbol JOBY.