Toyota is doubling down on Joby Aviation with a $500 million investment, bringing its total investment to $894 million. The funds will support Joby’s efforts to complete certification with the Federal Aviation Administration and prepare for commercial production of its electric air taxis. Joby aims to launch its service in 2025. The two companies have worked together for nearly seven years, sharing expertise and supply chain support. Joby has also partnered with other companies, including Uber and Reinvent Technology Partners, and gained numerous backers throughout its development.
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Toyota pours another $500M into electric air taxi startup Joby Aviation
