Toyota has invested an additional $500 million in Joby Aviation, raising its total investment to $894 million, to support the development and certification of electric air taxis.

Target Information

Joby Aviation, founded in 2009 by JoeBen Bevirt, is an innovative aerospace company based in California that is developing electric vertical takeoff and landing (eVTOL) aircraft designed for use as commercial air taxis in urban environments. Over the past decade, Joby has been dedicated to the certification and production of its eVTOL aircraft, gaining significant momentum particularly in the last five years with major advancements in its development and strategic financial maneuvers.

Joby recently completed the manufacture of its third aircraft from a pilot production line situated in Marina, California, marking another step towards operational readiness. The company is currently progressing through the FAA's lengthy Type 2 certification process, which is in the fourth of five stages, with the aim of launching a commercial air taxi service by 2025. Furthermore, Joby has begun expansion of its manufacturing facility, which will more than double its current production capabilities.

Industry Overview in the United States

The air taxi industry in the United States is at the forefront of the emerging urban air mobility (UAM) sector, which seeks to introduce air transportation solutions for cities facing congestion a