Joby Aviation Finalizes $250 Million Investment Deal
Joby Aviation, Inc. (NYSE: JOBY), a leading innovator in the development of all-electric vertical takeoff and landing (eVTOL) aircraft for commercial passenger service, has announced the successful closing of a $250 million investment from Toyota Motor Corporation. This funding represents the first tranche of a previously announced strategic investment and marks a critical milestone in the deepening collaboration between the two companies. It also signals growing momentum toward a transformative future for air mobility.
The substantial infusion of capital will directly support Joby’s efforts to achieve aircraft certification and initiate commercial-scale production of its electric air taxi. Designed to revolutionize urban transportation, the Joby aircraft offers a quiet, safe, and emissions-free solution to the increasing congestion in metropolitan areas around the world.
A Shared Vision for the Future of Mobility
This latest round of funding reinforces the strong alignment between Joby and Toyota on a shared vision of sustainable, accessible, and scalable transportation solutions. The two companies have been working closely together since Toyota’s initial investment in Joby in 2020, which was part of a $590 million Series C funding round. Since then, Toyota has become Joby’s largest external shareholder and a key strategic partner, contributing both financial resources and manufacturing expertise.
The new $250 million tranche is a testament to Toyota’s continued confidence in Joby’s technological leadership and market potential. It also underscores the evolving nature of the partnership, which is now shifting from early-stage collaboration to a more mature alliance focused on delivering commercial products to the market.
“This is more than an investment; it’s a long-term commitment to building the future of transportation together,” said JoeBen Bevirt, founder and CEO of Joby. “With this new capital and Toyota’s unparalleled production know-how, we are significantly advancing our ability to scale our manufacturing operations and deliver a next-generation aviation solution that meets the high expectations of customers around the world.”
Leveraging Toyota’s Manufacturing Excellence
As Joby prepares for the transition from prototyping to volume production, Toyota’s role as a manufacturing partner is increasingly central to the company’s strategy. Toyota is widely recognized for its global leadership in lean manufacturing, supply chain optimization, and quality control — expertise that Joby is actively incorporating into its own processes.
The collaboration is already yielding tangible results. Engineers from Toyota are working alongside Joby teams to streamline component design, refine assembly techniques, and lay the foundation for high-throughput production lines. This close partnership is helping to reduce complexity, lower costs, and accelerate time-to-market for Joby’s aircraft.
“We’re already seeing the benefit of working with Toyota in streamlining manufacturing processes and optimizing design,” Bevirt noted. “This is an important next step in our alliance with Toyota to scale the promise of electric flight. Together, we’re laying the groundwork for a new era in aviation — one where advanced air mobility becomes a seamless, everyday part of life.”
Toward Commercial Launch
Joby’s electric air taxi is designed to carry a pilot and four passengers at speeds of up to 200 mph with a maximum range of 100 miles on a single charge. The aircraft is specifically engineered for short-haul, on-demand flights in congested urban and suburban environments, offering a compelling alternative to traditional ground transportation.
With the support of this latest investment, Joby aims to accelerate its progress toward securing Federal Aviation Administration (FAA) type certification — a key requirement for initiating commercial operations. The company has been engaged in a rigorous testing and certification program with the FAA and continues to meet critical milestones in that process.
In parallel with its certification efforts, Joby is preparing to launch commercial operations as early as 2025. The company has signed agreements with several high-profile partners, including Delta Air Lines and the U.S. Department of Defense, to explore use cases ranging from civilian air taxi services to logistics and defense applications.
Toyota’s Commitment to Innovation
For Toyota, the investment in Joby represents a broader strategy to lead in the next wave of mobility innovation. The company has long recognized that the future of transportation will extend beyond the road and into the air. Through its partnership with Joby, Toyota is positioning itself at the forefront of this transformation, leveraging its global scale and operational excellence to help bring electric air mobility to life.
“This milestone further cements the collaboration and alignment between our two companies,” said Tetsuo “Ted” Ogawa, CEO of Toyota Motor North America. “Our investment in Joby reflects our shared dream of mobility for all and our commitment to achieving a future of air mobility. We are proud to support Joby as it advances toward certification and commercial launch.”
Toyota’s involvement also aligns with its corporate mission to reduce environmental impact through the adoption of sustainable technologies. By supporting the development of zero-emission aviation, Toyota is contributing to the decarbonization of the broader transportation ecosystem.
Building an Ecosystem for Air Mobility
Beyond aircraft development and manufacturing, Joby and Toyota are also exploring opportunities to collaborate on the broader infrastructure and ecosystem required to support urban air mobility. This includes areas such as ground support operations, charging networks, air traffic integration, and digital mobility platforms.
The vision is to create a seamless and user-friendly experience that enables passengers to book a flight, travel to a skyport, and arrive at their destination efficiently and sustainably. This requires not only technological innovation but also close coordination with cities, regulators, and transit authorities — an effort that both companies are actively supporting.
Joby has already made significant strides in this direction. The company has announced plans to operate air taxi services in multiple U.S. cities, with a strong focus on integrating with public transportation and airport systems. Its aircraft are designed for quiet operation and minimal environmental footprint, making them well-suited for dense urban environments.
With the closing of this $250 million investment, Joby is well-positioned to accelerate its path to market and fulfill its mission to make clean, quiet, and affordable air travel a reality. The partnership with Toyota — combining world-class manufacturing capabilities with cutting-edge aerospace innovation — is a powerful foundation for long-term success.
As the commercial aviation industry undergoes a profound transformation, Joby and Toyota are demonstrating what’s possible when vision, expertise, and capital come together with a shared purpose. The journey to a more sustainable and accessible future in air mobility is well underway — and with this milestone investment, it’s taking off at full speed.