Summary:
Toyota invests $500 million in electric air taxi startup Joby Aviation.
Joby Aviation's eVTOL aircraft can reach speeds of 200 miles per hour.
Electric air taxis produce 52% less carbon pollution than traditional cars.
Toyota has invested a total of $894 million in Joby since 2019.
The partnership aims to revolutionize air mobility and sustainable travel.
Toyota Motor Corporation has recently invested a staggering $500 million to propel electric air taxi travel into the future. This investment supports Joby Aviation, a pioneering startup in electric vertical takeoff and landing (eVTOL) aircraft, enabling them to secure flight certification and begin commercial production of their sustainable technology.
Founded in 2009 in Marina, California, Joby Aviation is making waves in the commercial air taxi sector. Their air taxi, powered by six electric motors, is designed to operate without producing air pollution. Capable of carrying one pilot and four passengers, Joby’s aircraft can reach speeds of up to 200 miles per hour.
"Flying with us might feel more like getting into an SUV than boarding a plane," claims the company's website, emphasizing the user-friendly experience.
In terms of environmental impact, Joby's electric air taxis are a breath of fresh air. They generate significantly less pollution compared to traditional air travel, particularly when compared to gas-powered helicopters, which are notorious for their high emissions. For instance, the Airbus AS350, a popular helicopter model, emits 950 pounds of carbon per hour, while a standard gas-powered car emits only 22 pounds.
With electric motors, an eVTOL carrying three passengers produces 52% less harmful carbon pollution than a car, even when charged with dirty energy sources like methane gas.
Toyota's relationship with Joby Aviation dates back to 2019, with total investments now reaching $894 million. Beyond financial support, Toyota has also provided expertise in process planning, manufacturing methods, and tooling design. In 2023, the companies signed a long-term agreement for Toyota to assist in manufacturing critical components for Joby's air taxis.
Joby Aviation continues to innovate, having recently completed its third aircraft and breaking ground on a new facility in California that will double its manufacturing output. The latest funding aims to realize a shared vision of air mobility between Joby and Toyota, as highlighted by Joby’s founder and CEO, JoeBen Bevirt. This investment marks a significant step in their seven-year collaboration and showcases the growing potential of electric air travel.
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