January 16, 2020 1:12 PMTOKYO: Japanese car giant Toyota said Thursday it is investing nearly US$400 million in a company working on commercialising electric flying cars for “fast, quiet and affordable air transportation services”.
“Air transportation has been a long-term goal for Toyota, and while we continue our work in the automobile business, this agreement sets our sights to the sky,” Toyoda said in a statement announcing the investment. Founded in 2009, Joby Aviation is developing a four-passenger electric aircraft that takes off and lands vertically, like a helicopter, though it has multiple rotors.
Toyota said it would also offer its “expertise in manufacturing, quality and cost controls for the development and production” of Joby’s aircraft.
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