Joby Aviation Stock Soars as Toyota Invests $250 Million
Joby Aviation shares surged nearly 29 percent after the company confirmed it received a $250 million payment from Toyota Motor Corporation. The investment is part of a broader $500 million commitment Toyota made in October to support Joby’s certification and production of electric air taxis. The funding marks a major step forward in Joby’s efforts to bring electric vertical takeoff and landing (eVTOL) aircraft to market.
The California-based aerospace firm develops eVTOL aircraft designed to operate like helicopters, providing a quiet, emissions-free alternative for urban and regional air travel. The latest infusion of capital underscores Toyota’s growing role in the project, with Joby CEO JoeBen Bevirt noting the automaker’s influence on manufacturing optimization and design refinement. Bevirt described the investment as a significant milestone in the partnership, aimed at advancing scalable electric flight.
In a statement, Joby emphasized that the deal strengthens both companies’ shared vision of next-generation transportation and reflects their deepening collaboration. Toyota previously invested $394 million in Joby back in 2020, making this latest transaction a reaffirmation of its long-term support.
The eVTOL market is attracting growing interest from both traditional aerospace firms and auto manufacturers, drawn by its potential to revolutionize short-distance travel. In addition to Joby’s work with Toyota, rival Archer Aviation has partnered with United Airlines to develop an airport air taxi service, further signaling the aviation industry’s shift toward electric mobility solutions.
Joby’s latest funding boost positions the company to accelerate certification efforts and move closer to commercial operations in the near future.
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Sources: AirGuide Business airguide.info, bing.com, cnbc.com