Toyota Invests $500M in Joby Aviation
This is a California news story, published by TechCrunch, that relates primarily to Joby news.
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•Toyota pours another $500M into electric air taxi startup Joby Aviation | TechCrunch
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Toyota is doubling down on its investment in California -based Joby Aviation .
The $500 million investment will be made in two equal tranches in the form of cash for common stock.
The funds will be used to help Joby complete the lengthy Type 2 certification process with the Federal Aviation Administration .
Joby is in the fourth of five stages of the type certification process and aims to launch a commercial air taxi business in 2025 .
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