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

  • Baidu launches Beijing robotaxis
    September 23, 2020
    Company is also bringing V2X and connected road tech to Guangzhou
    Read More
  • Citroën targets micromobility with Ami EV
    March 5, 2020
    Citroën is launching a small, two-seater electric vehicle (EV) which can be driven by children as young as 14, apparently.
    Read More
  • Ptolemus' short guide to picking an ITS winner
    January 11, 2024
    What makes a good ITS investment and what are the chances of the money coming into transportation creating an unsustainable bubble? Frederic Bruneteau and Alberto Lodieu of Ptolemus Consulting Group take a look at the market and suggest some key areas of interest for the future
    Read More
  • Here announces connected vehicle breakthrough
    October 10, 2016
    Here, the global location technology company, is at the ITS World Congress with a major breakthrough in connected cars. At this year's Paris Motor Show, the company announced that Audi, BMW and Mercedes- Benz will supply Here, which they jointly own, with real-time sensor data collected by their cars to enable systems to better understand their surroundings. The deal marks the first time a trio of leading brands have agreed to share data, and could indicate the beginning of a proper connected car industry.
    Read More

Highlighted Content