Joby Aviation and Toyota strengthen business partnership
Jeanette Bent
SANTA CRUZ, Calif. (KION-TV) — Local air taxi company Joby Aviation is celebrating a new investment of $250 million from Toyota.
This new funding brings the two companies closer to a strategic manufacturing alliance.
Joby says the investment is supporting the certification and production of the company’s flagship electric air taxi.
This, in addition to — what the company says — strengthens the long term collaboration between the both companies.
Toyota had previously pledged an investment of another $500 million back in October.
This marks the latest in a long partnership between the two companies, who says they’ve been collaborating since 2019.