Joby, Toyota announce joint venture for air taxi production

Reuters

Tue, June 30, 2026 astatine 8:02 AM CDT 1 min read

June 30 (Reuters) - Joby Aviation and Toyota Motor announced a associated task connected Tuesday to nutrient ‌the aerial taxi maker's S4 series, arsenic ‌it looks to unafraid authorities support to deploy its commercialized electrical ​vertical takeoff and landing aircraft.

Air taxi firms specified arsenic Joby are competing to unafraid approvals and commercialize their all-electric craft successful a bid to conscionable increasing request ‌for faster and much ⁠sustainable municipality transportation.

Here are immoderate much details:

• Shares of Santa Cruz, California-based Joby roseate ⁠7% successful premarket trade.

• The Joby Toyota Aero Manufacturing Preparation Company, oregon JTAMPC, volition person 2 directors from ​Joby and ​three from Toyota, the ​companies said connected Tuesday.

• ‌According to the presumption of agreement, Joby volition assistance the associated task exclusive rights to manufacture the S4 Series craft and licence applicable intelligence spot connected a royalty-free basis.

• Joby volition ain 49% of JTAMPC ‌while Toyota volition ain the ​rest.

• Earlier this year, Joby conducted ​a week-long trial ​of the archetypal point-to-point aerial taxi objection ‌flights successful New York City.

• ​Joby's aerial ​taxi is simply a six-rotor electrical craft susceptible of vertically taking disconnected and landing similar a chopper ​and flying level ‌like an airplane, with country for a aviator ​and 4 passengers.

(Reporting by Anshuman Tripathy successful ​Bengaluru; Editing by Devika Syamnath)