Toyota to Invest $500M in Joby Aviation for Electric Air Taxis

TapTechNews October 3rd, Toyota Motor North America yesterday announced that it will invest an additional $500 million (TapTechNews note: currently about 3.513 billion Chinese yuan) in Joby Aviation to support the certification and commercial production of its electric air taxis.

It is known that the investment will be carried out in two phases, the first phase is planned to be completed later this year, and the second phase is planned to be completed in 2025. The total investment of Toyota Motor Corporation in Joby will reach $894 million (currently about 6.282 billion Chinese yuan).

Joby plans to start commercial passenger service in 2025, popularize air taxis in Dayton, Ohio, USA, and achieve delivery and operation. Different from other aircraft manufacturers that plan to sell electric vertical takeoff and landing aircraft (eVTOL) to customers such as airlines and logistics companies, Joby's business model is similar to a ride-sharing application, that is, it operates the passenger transport business independently.

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