Toyota has announced it is collaborating with aerospace company Joby Aviation (Joby) in the development and commercialization of an all-electric vertical take-off and landing (eVTOL) aircraft to enable the deployment of fast, quiet and affordable air transportation services, the company said.
The collaboration reflects Toyota´s recognition of the long-term potential of the urban air mobility market to meet the evolving needs of society, as well as Joby´s position as an industry leader in working to deliver safe and affordable air travel to everyone.
As the lead investor in Joby´s USD 590 million Series C financing, Toyota is continuing to leverage emerging technologies to provide Mobility for All. In addition to investing USD 394M in Joby, Toyota will share its expertise in manufacturing, quality and cost controls for the development and production of Joby Aviation´s breakthrough eVTOL aircraft. Joby´s design is well matched to serve the needs of an emerging air transportation market where commuters and travelers embrace the benefits of aviation on a daily basis within and between urban centers. More details of the prototype aircraft and production plans will be announced at a later date.
Toyota Motor Corporation (TMC) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world.