Pecohub Electric “flying taxi” developer Joby Aviation has secured a fresh $900 million investment from Toyota Motor Corporation, strengthening efforts to commercialise electric vertical takeoff and landing (eVTOL) aircraft.
The funding, announced as part of an expanded strategic partnership, is expected to accelerate aircraft certification, large-scale manufacturing, and commercial rollout plans. Toyota has been a long-time investor in Joby and has supported its manufacturing processes and production systems.
Joby is developing a piloted, all-electric air taxi designed to carry a pilot and up to four passengers at speeds of around 200 mph, with zero operating emissions. The company is targeting urban air mobility routes that could significantly cut travel time in congested cities.
The latest capital injection brings Toyota’s total investment in Joby to several hundred million dollars, underscoring growing confidence in the emerging advanced air mobility (AAM) sector.
Industry analysts say the partnership combines Joby’s aerospace innovation with Toyota’s global manufacturing expertise — a critical factor as companies race to make flying taxis commercially viable.
Joby has been working toward certification with the U.S. Federal Aviation Administration (FAA) and aims to launch passenger services in select markets once regulatory approvals are secured.
The global eVTOL market has attracted billions in investment in recent years, with companies competing to pioneer safe, efficient, and scalable aerial ride-sharing services.
