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Image credit: Joby Aviation via engadget<\/p>\n
Toyota just invested $349 million in the flying taxi startup Joby Aviation. The two companies say they will work together, Joby sharing its all-electric vertical take-off and landing (eVTOL) expertise and Toyota lending its knowledge of manufacturing, quality and cost controls to the development and production of Joby’s future aircraft.<\/p>\n
“Air transportation has been a long-term goal for Toyota, and while we continue our work in the automobile business, this agreement sets our sights to the sky,” Toyota Motor Corporation President and CEO Akio Toyoda said in a\u00a0press release<\/a>. As part of the deal, Toyota Motor Corp. Executive Vice President Shigeki Tomoyama will join Joby’s board of directors.<\/p><\/blockquote>\n
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Toyota isn’t the only automaker eyeing the skies. Hyundai<\/strong> is working on a\u00a0flying taxi concept with Uber<\/a>\u00a0and has\u00a0hired a NASA engineer<\/a>\u00a0to run its “flying car” division. Geely<\/strong> (the Chinese automotive group which manufactures Volvo and Lotus cars) and Daimler have both\u00a0invested in Volocopter<\/a>, and Rolls-Royce<\/strong> has its own\u00a0eVTOL concept<\/a>.<\/p>\n
Toyota’s investment was part of a Series C financing round, in which Joby raised $590 million<\/strong>. Past investors have included Intel Capital, JetBlue Technology Ventures and Toyota AI Ventures.<\/p>\n
Joby’s aircraft is a piloted, five-seat eVTOL, with a max speed of 200 miles per hour and a range of over 150 miles on a single charge. According to the company, it is 100 times quieter than conventional aircraft during takeoff and landing and “near-silent” when flying overhead. Additional details about the prototype aircraft and production plans will be announced later, Joby and Toyota said today.<\/p>\n