Toyota Motor Corporation is investing $394 million with Joby Aviation for the development of an all-electric vertical take-off and landing aircraft. Joby Aviation has already received $720 million [of which Toyota’s $394 million is a part of].
Toyota plans to share its expertise in manufacturing, quality and cost controls for the development and production of the electric air taxi by Joby.
“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,” said Toyota Motor Corporation president and CEO Akio Toyoda.
