Toyota Motor Corporation and Joby Aviation, a California-based company in the USA that develops electric air taxis for commercial passenger services, have announced that the Japanese brand will invest $500 million, approximately €450 million, in the American company, which aims to start commercial flights next year.
Thus, Joby will receive the new funding in two tranches: the first at the end of this year and the remainder is expected to be delivered in 2025, the year in which the company hopes to commercially launch the electric air taxi.
“The investment announced today is based on nearly seven years of collaboration between the two companies,” said JoeBen Bevirt, founder and CEO of Joby Aviation. “The knowledge and support shared by Toyota have been crucial to Joby’s success, and we look forward to deepening our relationship as we advance our shared vision for the future of air travel.”
Joby Aviation recently announced that the third aircraft has already come off the production line and that the company is working on expanding its production facility to double its production capacity.
Regarding the certification of the new air taxis, Joby has already announced that it has completed four out of the five necessary stages to obtain certification and expects to launch its first commercial flight service in Dubai by the end of 2025.
Before that, the new air taxis from Joby and Toyota will spend the first half of next year conducting a series of test flights.
Toyota thus joins other automotive manufacturers that have recently been investing in air taxis. Hyundai debuted its aerial model S-A2 at CES in Las Vegas earlier this year.
Xpeng is also advancing with the Land Aircraft Carrier, which combines two types of vehicles with an electric propulsion aerial module that offers vertical takeoff and landing.
This model has already completed over 20,000 flight tests with the previous five generations of vehicles, and the Chinese brand has announced that it has finalized cooperation agreements with over 70 airfields to build an ecosystem for flying cars.
Meanwhile, Stellantis continues its commitment to a partnership with Archer Aviation to develop the electric aircraft Midnight starting in 2025.
