Aircraft
Toyota Invests Big In eVTOL Developer Joby
Toyota Motor Corp. also will provide Joby Aviation with expertise in manufacturing, quality, and cost control of its eVTOL.
Joby Aviation's eVTOL will be capable of reaching a speed of 200 mph and fly 150 miles on a single charge. (Photo: Joby Aviation)
Joby Aviation's eVTOL will be capable of reaching a speed of 200 mph and fly 150 miles on a single charge. (Photo: Joby Aviation)

Billing itself as a “global mobility company,” Japanese automaker Toyota Motor Corp. Wednesday announced a partnership with and a $394 million investment in eVTOL developer Joby Aviation. The investment makes Toyota the lead investor in Joby’s just-completed $590 million Series C financing that brings the California-based company's total funding to $720 million to date.