Joby Aviation and Toyota partner to produce electric air taxis
Joby Aviation and Toyota Motor have formed a joint venture to manufacture Joby’s S4 series air taxis.
The joint venture, Joby Toyota Aero Manufacturing Preparation Company, will have two directors from Joby and three from Toyota.
Joby will grant the joint venture exclusive rights to manufacture the S4 Series aircraft and license relevant intellectual property on a royalty-free basis, with Joby owning 49% of the venture and Toyota owning the rest.
The partnership aims to secure government approval to deploy commercial electric vertical takeoff and landing aircraft, with Joby’s air taxi capable of vertically taking off and landing like a helicopter and flying level like an airplane, with room for a pilot and four passengers.