Toyota commits an additional $500M to Joby to support certification and production

Joby Aviation

Toyota agreed to invest an additional $500 million in Joby in two equal $250 million tranches to support certification and commercial production of its electric air taxi. Toyota and Joby have collaborated for seven years, with Toyota sharing manufacturing expertise and supplying key powertrain components for aircraft production.

• First $250 million tranche targeted to close in late 2024, second expected in 2025, subject to regulatory approval
• Toyota total investment now $894 million after providing $394 million before this commitment
• Since 2019 Toyota has contributed capital and engineers working alongside Joby's team in California
• 2023 agreement established Toyota as supplier of key powertrain and actuation components for production aircraft