Joby raises $590m to develop eVTOL aircraft 

Joby Aviation has raised $590 million in a funding round led by Toyota Motor to further develop urban air mobility. 
By Ben Spencer February 17, 2020 Read time: 1 min
Joby Aviation's aircraft in Santa Cruz, CA (Source: Joby Aviation)

Joby founder JoeBen Bevirt says Toyota will help the company achieve its ambition of “saving a billion people an hour a day”.

Toyota is to share its manufacturing and cost controls to aid the development of Joby’s electric vertical take-off and landing (eVTOL) aircraft.

As part of the deal, Toyota Motor’s executive vice president Shigeki Tomoyama will join Joby’s board of directors.

Other investors in the round include Intel Capital, Capricon Investment Group and Baillie Gifford.


 

Mass Transit & MaaS

For more information on companies in this article

Related Content

  • Building back better after Covid-19
    February 17, 2021
    The Canadian Urban Transit Association has looked carefully at what’s required to put public transportation on a firm footing post-Covid: here are a few of the group’s recommendations…
    Read More
  • Woven Planet maps future with Carmera
    July 16, 2021
    Autonomous vehicle mapping specialist to be acquired by Toyota Motor Corp subsidiary
    Read More
  • ITS America names new president and CEO
    April 28, 2015
    The Board of Directors of the Intelligent Transportation Society of America (ITS America), has named Regina Hopper president and chief executive officer effective from 18 May 2015. Hopper is a veteran executive of major Washington industry associations. Her experience in public policy advocacy, communications, media and law spans the transportation, telecommunications and energy industries. She most recently served as president and CEO of America’s Natural Gas Alliance where she built operations from the
    Read More
  • Intel to acquire Mobileye
    March 14, 2017
    Intel Corporation has entered into negotiations to acquire Israeli computer vision and machine learning company Mobileye, in a deal which brings together Mobileye’s computer vision expertise with Intel’s computing and connectivity expertise to create automated driving solutions from cloud to car. The two companies expect the combination to accelerate innovation for the automotive industry and position Intel as a provider in the fast-growing market for highly and fully autonomous vehicles. Intel estimate
    Read More

Highlighted Content