Toyota Invests Additional $500 Million in Joby Aviation, Totaling $894 Million; Joby Stock Rallies 22%

Oct 2, 2024, 12:52 PM

Toyota is investing an additional $500 million in Joby Aviation to support the certification and commercial production of electric air taxis. This brings Toyota's total investment in the California-based company to $894 million and establishes a manufacturing alliance. The investment aims to advance the two companies' shared vision of air mobility. Following the announcement, Joby Aviation's stock rallied 22%.