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

  • A coalition of the willing: iATL
    April 5, 2024
    A living lab on the streets of Georgia, US, is helping to improve traffic safety by real-world deployments of technology. ITS International talks to the founder and some of the partners at the Infrastructure Automotive Technology Laboratory
    Read More
  • Grab launches e-scooter service in Indonesia
    May 28, 2019
    Grab has joined forces with Sinar Mas Land to launch 50 electric scooters aimed at people travelling short distances in BSD (Bumi Serpong Damai) City in Indonesia. Sinar, a property developer, says the GrabWheels service is expected to be of interest to students and office workers travelling distances of 3-5km. Ongki Kurniawan, Grab Indonesia executive director, says the e-scooters can travel up to 15km per hour and can travel up to 40km when the battery is fully charged. Users can access the service
    Read More
  • Growth of telematics-based pay as you drive car insurance systems
    July 17, 2012
    Car insurance made cheaper by telematics has returned to news headlines in the UK this year. Will it really take off this time and can vehicle tracking provide an effective tool for enforcing or encouraging insurance compliance? Jon Masters reports Will 2012 go down as the year that telematics-based car insurance took off? In the UK at least, a groundswell of new policies, with premiums priced on the basis of tracked and analysed driving style, suggests a turning point has been reached. Some would argue t
    Read More
  • European Investment Bank supports electric cars in France
    October 15, 2012
    The European Investment bank is to lend a total of US$265 million to support the research, development and deployment of an electric-car sharing service in Paris, France. Following a loan of US$168 million to Groupe Bolloré in 2011 to support the research, development and innovation process, further financing of US$75 million was recently agreed to help fund new services and will go towards: deployment of an interconnected roadside and recharging/parking network; research, development and innovation of subs
    Read More

Highlighted Content