Toyota's Major Investment in Joby Aviation: Accelerating the Future of Air Mobility
Key Ideas
- Toyota invests an additional $500 million in Joby Aviation, totaling $894 million, to support the development of electric air taxis.
- Both companies share a vision of air mobility and have a mutual interest in hydrogen power, with Joby having conducted a successful test flight using hydrogen.
- The investment will aid in certification and commercial production of Joby's eVTOL aircraft, with plans for a manufacturing alliance for the first commercialization phase.
- Joby's innovative air taxi prototype combines features of a helicopter and a drone, offering a quiet and fast mode of transport with commercial use expected to begin in 2025.
Toyota's recent investment of an additional $500 million in Joby Aviation signifies a significant step towards the future of air mobility. Joby Aviation, specialized in electric air taxis known as electric vertical takeoff and landing aircraft (eVOTL), received this investment to further develop its innovative transportation solutions. The collaboration between Toyota and Joby not only involves financial support but also a shared vision for the future of air travel and a mutual interest in hydrogen power. Joby's successful test flight of a hydrogen-powered air taxi underlines the companies' commitment to sustainable aviation.
The financial support from Toyota will be provided in two installments, with a focus on aiding Joby's certification and commercial production processes. Additionally, both companies plan to establish a manufacturing alliance to facilitate the initial commercialization phase of Joby's electric air taxi.
Joby's pioneering air taxi prototype, resembling a fusion of a helicopter and a drone, boasts features such as quiet operation and impressive speeds of up to 200 mph. The aircraft, powered by six electric motors, has undergone extensive testing, flying over 30,000 miles since 2017. The commercial launch of Joby's eVTOL is scheduled for 2025 and is designed to accommodate four passengers and one pilot.
Advanced Air Mobility (AAM), a category that includes air taxis and eVOTLs, presents various potential applications according to the Federal Aviation Administration (FAA). These innovations could revolutionize transportation by enabling cargo and passenger transport, aiding emergency services like firefighters, and supporting search and rescue missions. One notable advantage of air taxis is their suitability for navigating busy urban environments and bypassing conventional transportation challenges. Joby Aviation's successful urban flight in New York City exemplifies the progress towards integrating air taxis into metropolitan settings.
Toyota's representative expressed optimism about the collaboration with Joby, emphasizing the importance of sustainable flight as a solution to contemporary mobility issues. The partnership between these industry leaders signifies a pivotal moment in the advancement of electric air taxis and the broader concept of future air mobility.