Toyota and air taxi maker Joby Aviation are forming a joint venture to advance manufacturing of electric aircraft designed for short commuter flights. Toyota, which became Joby's largest shareholder last year, will invest an additional $250 million（約400億円） now and nearly $1 billion（約1600億円） more by late 2026, contingent on final approval of their manufacturing agreement. The move prepares Joby for commercial service, though full regulatory approval from the FAA and other authorities is still pending.
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Toyota and Joby Aviation, an electric air taxi maker, are establishing a joint venture to deepen manufacturing ties. Toyota, already Joby's largest shareholder, plans an additional $250 million（約400億円） investment, with nearly $1 billion（約1600億円） more expected in the last quarter of 2026 upon final approval of a manufacturing supply agreement.
Why it matters
The partnership signals Toyota's commitment to the emerging electric vertical takeoff and landing (eVTOL) aircraft sector. The joint venture will focus on standardizing production and improving productivity, quality, and cost—steps necessary before Joby can begin commercial passenger services, which requires U.S. Federal Aviation Administration certification and approval from other regulators.
What to watch
Joby shares rose 4.6% to $9.02 on the announcement, though the stock is down about 32% this year. The company has previously targeted commercial launch this year, but the exact timeline remains unclear and it has pushed back launch dates multiple times.
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