Mentioned:
Joby Aviation is getting serious about scaling up their electric vertical takeoff and landing aircraft. Which is exactly why they’ve just formed a new manufacturing joint venture with Toyota.
What’s happening:
- Joby Aviation (NYSE: JOBY) and Toyota have formed a new joint venture company focused on scaling up the manufacturing and production of Joby Aviation’s S4 Series electric vertical takeoff and landing aircraft
By the numbers:
- Toyota will own 51% of the new joint venture company and Joby Aviation will own 49%
Why it matters:
- The new joint venture company will have exclusive rights to manufacture Joby Aviation’s S4 Series electric vertical takeoff and landing aircraft
Going deeper:
- Toyota has been one of the earliest investors in Joby Aviation and owns roughly 15% of the company
- Joby Aviation just recently made waves when they successfully completed multiple test flights of their electric vertical takeoff and landing aircraft in New York City
