Joby Receives $250 Million Investment From Toyota for Electric Air Taxis

Dow Jones

2025/05/28

By Connor Hart

Joby Aviation closed on the first $250 million payment of its previously disclosed partnership with Toyota Motor.

The transportation company, which is developing electric air taxis for commercial passenger service, said Tuesday that the funding will help support the certification and commercial production of its product.

The investment additionally underscores the companies' mutual commitment to delivering next-generation travel to global markets, Joby added.

"We're already seeing the benefit of working with Toyota in streamlining manufacturing processes and optimizing design," Chief Executive JoeBen Bevirt said.

The payment comes after Toyota said in October that it would invest an additional $500 million to support the certification and commercial production of Joby's electric air taxi as it seeks to boost air mobility.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

May 27, 2025 17:12 ET (21:12 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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