Toyota Motor Corporation (NYSE: TM) and Joby Aviation, Inc. (NYSE: JOBY), a developer of electric air taxis for commercial use, have announced the successful completion of Joby’s first international exhibition flight at Toyota’s Higashi-Fuji Technical Center in Shizuoka, Japan. The flight, conducted against the backdrop of Mount Fuji, showcased the low-noise, emissions-free performance of Joby’s aircraft and marked nearly seven years of collaboration between the two companies. During this partnership, Toyota has leveraged its extensive manufacturing and technology expertise to support Joby’s development. Toyota engineers now work alongside Joby’s team in California, and in 2023, the two companies entered into a long-term agreement for Toyota to supply essential powertrain and actuation components for Joby’s aircraft production.
“This milestone flight is a step forward in our mission to make clean air travel part of everyday life,” said JoeBen Bevirt, Founder and CEO of Joby. “Toyota shares our vision for the future of mobility, and we’re thrilled to offer a preview of that future here in Japan.”
The event drew a range of stakeholders, including Toyota Motor Corporation Chairman Akio Toyoda and representatives from Japan’s Civil Aviation Bureau.
Hiroki Nakajima, Toyota’s Executive Vice President and Chief Technology Officer, commented, “Air mobility has the potential to redefine our sense of distance and time, enriching lives with new transportation options. Toyota is committed to advancing our collaboration with Joby as we work toward our shared vision.”
Joby’s electric air taxi is designed to transport a pilot and four passengers at speeds up to 200 mph, providing high-speed, emissions-free travel with significantly reduced noise compared to helicopters. This new mode of transport aims to alleviate congestion, reduce environmental impact, and offer versatile solutions for urban and rural transportation needs in Japan and globally. Founded in 2009, Joby has conducted thousands of test flights, including recent demonstrations from New York City’s Downtown Manhattan Heliport.
The announcement follows Toyota’s recent commitment to invest an additional $500 million in Joby, bringing Toyota’s total investment to $894 million. This investment will support the certification and commercial production of Joby’s air taxis, with plans for a manufacturing alliance to drive the initial phase of commercialization.