Toyota is exploring a new ‘flight path for mobility’ through a new collaboration with California-based Joby Aviation, which is developing and commercialising all-electric vertical take-off and landing (eVTOL) aircraft ‘to enable the deployment of fast, quiet and affordable air transportation services.’
Akio Toyoda, Toyota Motor Corp’s CEO, said: “Air transportation has been a long-term goal for Toyota, and while we continue our work in the automobile business, this agreement sets our sights to the sky.”
Toyota is the lead investor in Joby’s $590 million Series C financing; in addition to investing $394 million in Joby, it will share its expertise in manufacturing, quality and cost control for the development and production of Joby Aviation’s eVTOL aircraft.
Joby Aviation founder and CEO JoeBen Bevirt (
www.jobyaviation.com) said: “Toyota is known globally for the quality and reliability of its products, driven by meticulous attention to detail and manufacturing processes.
“I am excited to harness Toyota’s engineering and manufacturing prowess to drive us toward our dream of helping a billion people save more than an hour of commuting time every day.”
Toyota (
www.global.toyota/en) anticipates that the collaboration with Joby Aviation will help to bring urban on-demand air transportation into the mainstream and initiate a new category of moving people and goods, while helping to alleviate persistent mobility challenges such as traffic congestion in urban areas, an increased environmental burden and the lack of transportation in under-populated areas.