Enters air mobility race with $500 million investment in Joby Aviation

📆 10/14/2024 12:57 PM
📰 TheManilaTimes

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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 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.

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.

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