Billing itself as a “global mobility company,” Japanese automaker Toyota Motor Corp. has announced a partnership with and a $394 million investment in startup eVTOL aircraft developer Joby Aviation. The investment, which was made public on January 15, makes Toyota the lead investor in Joby’s $590 million Series C financing round.
“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,” Toyota president and CEO Akio Toyoda said. “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.”
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