Joby Aviation and Toyota Establish Strategic Joint Venture
Joby Aviation (JOBY) and Toyota (TM) announced the initial phase of their strategic manufacturing alliance by establishing the Joint Venture to realize air mobility. This will combine Joby's work in electric aviation with Toyota's expertise in production systems. The strategic alliance will initially focus on establishing the groundwork for commercial production, and advancing manufacturing excellence, with particular emphasis on further improving productivity, quality, and cost. Going forward, it will also support the expansion of Joby's production capacity to support aircraft certification and meet anticipated growth in demand for its electric vertical take-off and landing, or eVTOL, aircraft. Going forward, both companies will continue to work through this Joint Venture to bring air mobility to society on a broader scale.
