Toyota Invests $250 Million in Joby Aviation
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Joby Aviation, Inc. has successfully closed a $250 million investment from Toyota Motor Corporation. This marks the first tranche of a previously announced strategic investment and aims to support certification and commercial production of Joby’s electric air taxi.
The investment strengthens the collaboration between Joby and Toyota and reflects a mutual commitment to advancing air mobility. It also moves the companies closer to a potential manufacturing alliance.
“We’re already seeing the benefit of working with Toyota in streamlining manufacturing processes and optimizing design,” said JoeBen Bevirt, founder and CEO of Joby. “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.”
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