Toyota Fuels Joby's eVTOL Dreams With Additional $500M Investment
Toyota(TM) ZACKS·2024-10-04 00:16
Japan’s auto giant Toyota (TM) is investing another $500 million in California-based electric vertical takeoff and landing (eVTOL) company Joby Aviation (JOBY) . This capital injection is aimed at accelerating Joby’s certification process and commercial production, signaling Toyota’s belief in the future of urban air mobility.The $500 million commitment will be delivered in two tranches, with the first installment expected by the end of this year and the second by 2025. It will bring Toyota’s total investme ...