Investment · Aviation / Mobility
Toyota to invest another $500 million in US air-taxi maker Joby Aviation
- Investor
- Toyota Motor (Toyota City, Aichi)
- In
- Joby Aviation, California
- Value
- $500M
- Status
- First $250M tranche closed May 27, 2025. The second $250M depends on a manufacturing agreement through a Toyota-led joint venture and was expected in late 2026 or early 2027.
- Date
- 2024-10-02
Toyota agreed to put an additional $500 million into California-based Joby Aviation to help fund certification and commercial production of its electric air taxi. The money comes in two equal tranches, the second tied to a strategic alliance on commercial manufacturing. The deal takes Toyota's total investment in Joby to $894 million.
Why it matters
It is one of the largest bets by a Japanese automaker on US advanced air mobility, and pairs Toyota's production-system know-how with a leading US eVTOL developer as it moves toward manufacturing at scale.
Slower than planned
Toyota had aimed to pay the first $250 million in late 2024, but it closed on May 27, 2025. Joby also listed shareholder approvals among the conditions for the second half.
A Toyota-led factory venture
In June 2026 the two set up Joby Toyota Aero Manufacturing Preparation Company in Delaware, 51% owned by Toyota. It is meant to hold exclusive rights to build Joby's S4 air taxi once supply agreements are signed. Those agreements are a condition for the second $250 million, and the venture may need US antitrust and CFIUS review.
Sources
Kakehashi M&A News home
