Joby Aviation October 2024 Private Equity Funding Round

Toyota Motor Corporation has committed to invest an additional $500 million in Joby Aviation to advance the certification and commercial production of Joby’s electric air taxi. This investment will be split into two tranches, with the first scheduled for later this year and the second in 2025, contingent on regulatory approvals. The funding brings Toyota’s total investment in Joby to $894 million. This partnership, spanning over seven years, aims to realize their shared vision of air mobility, with Toyota playing a significant role in manufacturing and supplying key components for Joby’s aircraft.