IT looks like Toyota is ready to spread its wings. The automotive giant, known for its reliable cars and cutting-edge hybrid technology, is diving into the world of air mobility with a $500 million investment in Joby Aviation. This California-based company is on a mission to make flying taxis a reality, and Toyota is betting big on this vision.
Following in the footsteps of fellow Japanese automaker Honda, Toyota is making its first major foray into the skies. While Honda has been developing its own electric vertical take-off and landing (eVTOL) aircraft, Toyota is teaming up with Joby, a pioneer in the electric air taxi space. The investment will bring Toyota's total stake in Joby to nearly $900 million, marking a significant leap from cars on the ground to air taxis in the sky."This isn't just a business deal — it's about creating a future where people can move around cities more freely and sustainably," said JoeBen Bevirt, Joby founder and chief executive officer (CEO). "Toyota's support has been invaluable to us. Their expertise and commitment make them the perfect partner to help bring our vision of air travel to life."The partnership between Toyota and Joby started years ago, and it's been growing steadily. Toyota has been more than just a financial backer, sending its engineers to work alongside Joby's team, sharing Toyota's world-renowned production expertise. Now, with this latest investment, Toyota is doubling down on its belief that air mobility is a crucial piece of the future transportation puzzle.For Toyota, this venture is part of a larger transformation. The company has been gradually shifting from an automobile manufacturer to a "mobility company" that looks at transportation from a broader perspective. Moving beyond cars, Toyota is interested in tackling all kinds of mobility challenges, and air taxis are a bold new step in that direction."We've seen Joby's progress up close, and we believe that sustainable flight can really help solve some of today's transportation issues. This investment is a step toward making air taxis an everyday option," said Tetsuo Ogawa, CEO of Toyota Motor North America Inc.It's easy to imagine how Toyota's expertise in scaling up production will help Joby get its aircraft off the ground and into commercial service. And as they continue to expand, the two companies are likely to make strides not only in technology but in reshaping how we think about getting from place to place.For now, it's a big moment for both companies — and for anyone who's dreamed of beating city traffic by taking to the skies. With Honda and Toyota now both in the game, the idea of flying taxis no longer feels like science fiction; it's quickly becoming a race to see which of these transportation giants will get there first.
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