Joby Aviation Partners With Toyota On Air Taxi Development

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Joby Aviation announced that it has raised $590 million in its recent round of Series C funding and formed a partnership with the Toyota Motor Corporation aimed at the certification and deployment of all-electric vertical takeoff and landing aircraft (eVTOLs) for use in air taxi services. As part of the partnership, Toyota Executive Vice President Shigeki Tomoyama will be joining Joby’s board of directors. Toyota contributed $394 million to the California-based aerospace company’s latest funding round.

“We are building a new system for transportation to transform your daily life, at greater safety and, in time, at a similar cost to driving,” said Joby Aviation founder and CEO JoeBen Bevirt. “This collaboration with Toyota represents an unprecedented commitment of money and resources for us and this new industry from one of the world’s leading automakers.”

According to Joby, Toyota will “share its expertise in manufacturing, quality, and cost controls to support the development and production of Joby Aviation’s aircraft.” Joby says its unnamed eVTOL is designed to seat four passengers and a pilot, have a top speed of around 200 MPH and a single-charge range of more than 150 miles. Other investors include SPARX Group, Intel Capital, Capricorn Investment Group, JetBlue Technology Ventures, AME Cloud Ventures, Baillie Gifford and Global Oryx. The recent round of Series C investments brings the company’s total funding to $720 million.

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7 COMMENTS

  1. “…And, in time, at a similar cost to driving.”

    And then: “…its unnamed eVTOL is designed to seat four passengers and a pilot.”

    So, the pilot is going to work for free? How else could the cost of this miracle be similar to the cost of driving? And at 200 mph?

    Truly miraculous. Rough translation: complete BS.

  2. Welcome to negative return Investment 2.0.2.0.

    A lot of people are going to live a very luxurious life for having brought the eVTOL money burning -scheme to life.

    Turning 45 next week gives me enough pause to wonder if and which one of the ambitious money burners will actually fly, in which structure of airspace. By the time I get put into a nursing home with autonomous (and then probably identifying as diverse) care- robots. This of course assumes not being shot or struck by a rocket from outer space, in retaliation for being cynical and sarcastic at exactly the wrong time.

    The coming decade will go down in history as collective and widespread, institutionalized world-wide insanity.