Toyota investing US$400 million in flying car company

Toyota's investment in Joby is its latest venture into the flying vehicle field after joining up with Uber to develop an 'urban air taxi' . TOKYO: 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".

"Through this new and exciting endeavour, we hope to deliver freedom of movement and enjoyment to customers everywhere, on land, and now, in the sky." The firm envisions the aircraft as a mode of commercial transport, rather than for sale to individuals, with its pilots ferrying commuters around.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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