Toyota's $500 Million Infusion Sends Joby Aviation's Shares Soaring

Published 1 days agoJOBY

Toyota's $500 Million Infusion Sends Joby Aviation's Shares Soaring

Joby Aviation has seen a significant boost in its share price, following Toyota's announcement of a $500 million investment aimed at advancing their electric air taxi services. This marks a notable development in the aviation sector as large car manufacturers increasingly look to invest in sustainable transport technologies.

The investment from Toyota, totaling $894 million, will be distributed in two equal parts. The first part is expected to be completed later this year and the second in 2025. The purpose of this infusion is to aid Joby in achieving certification and initiating commercial production of its electric air taxis. The alliance is set to include a manufacturing partnership for the first phase of commercialization, strengthening the connection between Joby and the automotive giant. Reuters reports this development has led to a surge in Joby’s share price by as much as 21%, signifying investor optimism toward the future of electric air mobility.

Toyota's new investment builds upon a partnership of nearly seven years, during which it has offered Joby insights from its automotive expertise. As Joby advances through the FAA certification process, it aims to start vehicle production with an eye towards launching commercial services by next year. This move underscores the shared vision between Toyota and Joby to make air mobility a reality, fostering innovation in the field of electrified transportation.

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