SHERIDAN, WYOMING – October 13, 2024 – Toyota Motor Corporation (Toyota) is taking its commitment to mobility to new heights – literally – through an exciting new collaboration with Joby Aviation (Joby), an aerospace company developing all-electric vertical take-off and landing (eVTOL) aircraft. This partnership aims to revolutionize transportation by making fast, quiet, and affordable air travel a reality.
The collaboration brings together two industry leaders: Toyota, renowned for its expertise in manufacturing, quality, and cost control, and Joby, a pioneer in the eVTOL space. Together, they are poised to transform urban air mobility and meet the evolving needs of society.
"Air transportation has been a long-term goal for Toyota, and while we continue our work in the automobile business, this agreement sets our sights to the sky," said Toyota Motor Corporation President and CEO Akio Toyoda. "As we take up the challenge of air transportation together with Joby, an innovator in the emerging eVTOL space, we tap the potential to revolutionize future transportation and life. Through this new and exciting endeavor, we hope to deliver freedom of movement and enjoyment to customers everywhere, on land, and now, in the sky."
Toyota's commitment to this venture is evident in its lead investment of $394 million in Joby's $590 million Series C financing round. This strategic partnership will allow Toyota to share its extensive manufacturing expertise and knowledge of the Toyota Production System with Joby, facilitating the efficient mass production of eVTOL aircraft.
Joby's innovative eVTOL aircraft design combines elements of helicopters and small airplanes, offering a unique blend of high reliability, zero emissions, fast flight speeds, and quiet operation. These aircraft are designed to meet the needs of a growing urban air transportation market, providing commuters and travelers with a quick and efficient way to navigate within and between urban centers.
"This collaboration with Toyota represents an unprecedented commitment of money and resources for us, and for this new industry, from one of the world's leading automakers," said Joby Aviation founder and CEO JoeBen Bevirt. "Toyota is known globally for the quality and reliability of their products driven by meticulous attention to detail and manufacturing processes. I am excited to harness Toyota's engineering and manufacturing prowess to drive us toward our dream of helping a billion people save an hour+ commuting time every day."
By combining Joby's cutting-edge aircraft design with Toyota's manufacturing expertise, the collaboration aims to produce high-quality, durable, and reliable aircraft that meet the highest safety standards. This partnership is a testament to Toyota's dedication to exploring new frontiers in mobility and its commitment to providing innovative solutions to meet the evolving transportation needs of society.