Joby Aviation Announces “First USD250 Million Investment Tranche from Toyota Motor Corp”

Joby Avi­a­tion announced this week, a suc­cess­ful com­ple­tion of the first USD250 mil­lion tranche of a pre­vi­ous­ly announced invest­ment from Toy­ota Motor Cor­po­ra­tion, reports a press release. 

The fund­ing marks “a sig­nif­i­cant mile­stone in strength­en­ing the long-term col­lab­o­ra­tion between the two com­pa­nies and sup­ports their shared vision for the future of air mobil­i­ty,” says the release.

The invest­ment will sup­port the cer­ti­fi­ca­tion and com­mer­cial pro­duc­tion of Joby’s elec­tric air taxi, under­scor­ing a mutu­al com­mit­ment to deep­en inte­gra­tion and deliv­er­ing next gen­er­a­tion trav­el. This fund­ing also places the two com­pa­nies a step clos­er towards a man­u­fac­tur­ing alliance.

JoeBen Bevirt, Joby’s Founder and CEO, com­ment­ed, “This is an impor­tant next step in our alliance with Toy­ota. With this cap­i­tal and the car company’s leg­endary pro­duc­tion exper­tise, we’re enhanc­ing our abil­i­ty to scale cut­ting-edge design and man­u­fac­tur­ing to meet the demands of our part­ners and cus­tomers.”

JoeBen Bevirt

Tet­suo Ogawa, CEO of Toy­ota North Amer­i­ca, added, “Our invest­ment in Joby reflects a shared dream of future air mobil­i­ty for all.”

The Joby share price rose by over 18 per­cent on the news.

For more infor­ma­tion

www.jobyaviation.com

(Top image: Joby Avi­a­tion)

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