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

  • Ertico weaves tunnel visions into the ‘big picture’
    April 7, 2017
    As he takes the wheel at Ertico - ITS Europe, Jacob Bangsgaard talks to ITS International about the challenges and opportunities facing the organisation and the ITS industry. Ertico - ITS Europe’s new CEO, Jacob Bangsgaard, is no stranger to the organisation having spent five years there before moving to the FIA (Federation Internationale de l’Automobile) in 2006. Four years later he became director general of the FIA’s Region I (EMEA), which represents more than 100 mobility clubs, and in 2012 he joined Er
    Read More
  • Ertico weaves tunnel visions into the ‘big picture’
    April 7, 2017
    As he takes the wheel at Ertico - ITS Europe, Jacob Bangsgaard talks to ITS International about the challenges and opportunities facing the organisation and the ITS industry. Ertico - ITS Europe’s new CEO, Jacob Bangsgaard, is no stranger to the organisation having spent five years there before moving to the FIA (Federation Internationale de l’Automobile) in 2006. Four years later he became director general of the FIA’s Region I (EMEA), which represents more than 100 mobility clubs, and in 2012 he joined Er
    Read More
  • Ameresco wins $4m Oregon LED upgrade
    November 5, 2020
    Deal covers approximately 8,000 light fixtures and promises significant energy savings
    Read More
  • Mobileye utilises Orange’s IoT connectivity
    September 9, 2019
    Mobileye has selected telecoms giant Orange to provide Internet of Things (IoT) connectivity for a solution which it claims will make roads safer. The company, part of Intel, says the Mobileye 8 Connect provides drivers with collision avoidance technology based on their behaviour, environmental data and real-time alert data such as recognising pedestrians in low light. The solution - which sees the road ahead through a camera lens - is expected to offer municipalities and utilities data to plan for smart
    Read More

Highlighted Content