Toyota is deepening its commitment to aerial mobility through a significant manufacturing partnership with Joby Aviation, aiming to mass-produce electric vertical take-off and landing (eVTOL) aircraft. The Japanese automaker will take a controlling 51 percent stake in a new joint venture, named Joby Toyota Aero Manufacturing Preparation Company, to leverage Toyota's extensive manufacturing expertise.
This collaboration is designed to enhance manufacturing quality, reduce production costs, and prepare for the large-scale production of Joby's electric aircraft, which are envisioned to carry passengers over congested cities at speeds nearing 200 mph. The aircraft features six tilting propellers for vertical takeoff and landing, transitioning to forward flight like an airplane. It is designed to accommodate a pilot and four passengers, operating with significantly less noise than conventional helicopters.
Toyota chairman Akio Toyoda stated that the partnership with Joby, a company sharing the same vision, is a crucial step towards realizing a future mobility society. Joby founder and CEO JoeBen Bevirt highlighted Toyota's decade-long support in establishing the foundation for aircraft manufacturing.
The two companies have collaborated since Toyota's initial investment of nearly $400 million in 2020. Toyota's total commitment has since grown to approximately $900 million, making it a primary financial backer of Joby. The new venture will grant Joby exclusive rights to manufacture its S4 aircraft while benefiting from Toyota's decades of automotive manufacturing experience.
This move comes as the commercial air taxi sector intensifies. Joby is among the companies, including rivals like Archer Aviation, seeking full approval from the Federal Aviation Administration (FAA) to operate passenger services. Joby has already conducted demonstration flights in New York City and plans to launch commercial services in the United Arab Emirates before expanding to the U.S. following FAA certification.
The company is also slated to participate in the White House-backed eVTOL Integration Pilot Program, with planned demonstration flights across several U.S. states. Toyota's manufacturing prowess could be instrumental in Joby's ambitious goal of producing up to 500 aircraft annually, with initial production ramping up to around four aircraft per month post-certification.
Previous agreements also allow Toyota to potentially operate its own fleet of air taxis for corporate transport or commercial use, and the companies are exploring areas such as pilot training, maintenance, and the development of dedicated vertiports.
Despite the progress, the venture still requires regulatory approval for the manufacturing joint venture and full FAA certification for passenger operations before air taxis can become a common mode of transport. Industry analysts suggest the partnership provides Joby a significant advantage, offering access to Toyota's established mass production, quality control, and supply chain management capabilities, which have historically been challenging for aviation startups.