Joby Aviation has successfully closed the first $250 million tranche of a previously agreed strategic investment from Toyota Motor Corporation.
The investment is intended to support the certification and commercial production of Joby’s electric air taxi. It underscores the mutual commitment to deeper integration and the delivery of next-generation travel to global markets. The investment also brings the two companies closer to forming a strategic manufacturing alliance.
The funding marks a significant milestone in strengthening the long-term collaboration between the two companies and supports their shared vision for the future of air mobility.
JoeBen Bevirt, founder and CEO of Joby, said, “We’re already seeing the benefit of working with Toyota in streamlining manufacturing processes and optimizing design. This is an important next step in our alliance with Toyota to scale the promise of electric flight. With this capital and Toyota’s legendary production expertise, we’re enhancing our ability to scale cutting-edge design and manufacturing to meet the demands of our partners and customers.”
Tetsuo “Ted” Ogawa, CEO of Toyota North America, also commented, “This milestone further cements the collaboration and alignment between our two companies. Our investment in Joby reflects our shared dream of mobility for all and our commitment to achieving a future of air mobility.”
