Toyota to invest $500m in air taxi production
Japan’s leading automobile corporation Toyota will invest another $500m in Joby Aviation to support certification and commercial production of Joby’s electric air taxi, TASS reports
“Toyota Motor Corporation and Joby Aviation announced that Toyota will invest an additional $500m to support certification and commercial production of Joby’s electric air taxi in order to realise the common vision of the two companies regarding air mobility,” Toyota’s press service reports:
It is also noted that the financing will take place in two equal tranches in late 2024 and in 2025. The idea of creating a production alliance for the first stage of commercialisation is being currently studied, while the total investment of the Japanese concern in Joby Aviation will reach $894m. The companies have been liaising for seven years.
