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

  • New Guardian set to take over Q-Free
    September 29, 2023
    Investment firm is acquiring toll specialist with existing shareholder Rieber & Søn
    Read More
  • Automotive AI market predicted to grow by nearly 40 per cent by 2025
    August 30, 2017
    According to the new market research report from MarketsandMarkets, the automotive artificial intelligence (AI) market is expected to be valued at USD 782.9 Million in 2017 and is expected to reach US$10,573.3 million by 2025, at a CAGR of 38.46 per cent between 2017 and 2025. The report indicates that emergence of autonomous vehicle and industry-wide standards such as the adaptive cruise control (ACC), blind spot alert and advanced driver assistance systems (ADAS) would trigger the growth of the automotive
    Read More
  • Inrix joins ITF corporate partnership board
    March 25, 2015
    Inrix is to join the Corporate Partnership Board (CPB) of the International Transport Forum (ITF) at the OECD. Created in 2013, the CPB is the ITF's platform for engaging with the private sector and enriching policy discussion with a business perspective among its 54 member countries. Inrix joins the 13 current CPB members from across the transport industry: Bombardier Transportation, China Communications Construction Company (CCCC), China Ocean Shipping Company (COSCO Group), Kapsch TrafficCom, Meridiam, M
    Read More
  • Sice systems future proof Fehmarnbelt Tunnel
    April 4, 2023
    Picking up the electro-mechanical contract for the Fehmarnbelt Tunnel was a milestone, according to David Calero Monteagudo, head of global ITS and tunnel business for Spanish company Sice. David Arminas finds out more
    Read More

Highlighted Content