Joby Aviation creates a joint venture with Toyota to build air taxis
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Set us as preferred The race to bring air travel to the sky is heating up as Santa Cruz-based Joby Aviation and Toyota launch a joint venture to commercially produce air taxis.The companies said in a news release Tuesday that they will work together on productivity, quality and costs and move toward mass production of Joby’s electric vertical takeoff aircraft.Joby and Toyota were first linked when Toyota made a nearly $400-million investment in the company in 2020.
It has since increased its backing of the company to $900 million.“It’s really meaningful for us to take on this challenge together with Joby, a partner that shares the same vision,” Toyota Chair Akio Toyoda said.“We believe this strengthened relationship is an important step forward in realizing the future mobility society.” Business Santa Cruz air taxi maker Joby gets manufacturing boost from ToyotaJoby‘s all-electric vertical takeoff vehicles are designed to hold four passengers and a pilot and can travel at up to 200 mph.
The vehicle uses six tilting propellers to achieve vertical takeoff before switching to forward flight.In February, Joby announced a partnership with Uber to start service in the United Arab Emirates this year, bringing on-demand air taxi rides to the country.
It plans to expand to the U.S.after the completion of its final stage of Federal Aviation Administration testing.
Prior to its full FAA certification, Joby is hoping to launch early flight operations later this year as part of a White House program that will bring flights to several states, including New York, Texas and Arizona.Flights in California will not begin until after obtaining FAA certification.Joby has been in a fierce battle to be the first with taxis in the sky with its Northern California competitor Archer Aviation.
The two companies are involved in overlapp...