Joby and Toyota Launch Initial Phase of a Strategic Manufacturing Alliance to Mobilize Air Mobility for All

Joby Aviation (NYSE: JOBY) and Toyota Motor Corporation today announced an exciting new chapter in their nearly decade-long partnership: a Joint Venture combining Joby’s groundbreaking electric aviation technology with Toyota’s world-class manufacturing expertise.

The new venture will lay the groundwork for commercial production of Joby’s electric vertical take-off and landing (eVTOL) aircraft, driving improvements in productivity, quality, and cost, and scaling capacity to meet surging demand as certification nears.

“Toyota has been by Joby’s side for nearly a decade, providing invaluable guidance and support as we built the foundation for manufacturing our aircraft,” said JoeBen Bevirt, founder and CEO of Joby Aviation. “Today’s announcement reflects the strength of our relationship and our shared confidence in the opportunity ahead. Together, we share a vision of making aerial mobility an everyday reality, and we look forward to delivering on that promise together.”

Akio Toyoda, Chairman of Toyota Motor Corporation, commented: “Since our founding, we’ve been gguided by the philosophy of providing mobility for all. Over time, we’ve continued to expand what mobility can mean. We see air mobility as a natural extension of that philosophy, from the ground into the sky, and as a way to bring new value to people’s lives and to society. It’s really meaningful for us to take on this challenge together with Joby, a partner that shares the same vision. We believe this strengthened relationship is an important step forward in realizing the future mobility society.”

Going forward, the two companies will work closely together through this Joint Venture, leveraging their respective strengths to bring air mobility to society on a broader scale.