Toyota Becomes Top Shareholder in Air Taxi Maker Joby

Toyota Motor Corp. has recently invested $250 million in Joby Aviation, marking the first part of a planned $500 million commitment. This investment has made Toyota the largest shareholder in Joby, raising its stake to 15.3%. The overall funding pledged by Toyota could reach up to $894 million. Joby, which specializes in electric vertical takeoff and landing (eVTOL) aircraft designed for short commuter journeys, has adjusted its timeline for launching commercial operations in Dubai to early 2026, pending necessary regulatory certifications.

Expert opinion: The substantial investment by Toyota indicates a strong belief in the future of urban air mobility and eVTOL technology. This sector holds great promise for alleviating traffic congestion in metropolitan areas by providing a faster alternative to traditional ground transportation. As regulatory frameworks evolve and technology matures, we may witness a significant transformation in how urban transportation systems are structured, with air taxis becoming a viable option alongside conventional public transit.