SANTA CRUZ, Calif. and TOYOTA CITY, Japan―30th June―Joby Aviation, Inc. (NYSE: JOBY) and Toyota Motor Corporation today announced the initial phase of their strategic manufacturing alliance by establishing the Joint Venture to realize air mobility. This will combine Joby’s pioneering work in electric aviation with Toyota’s globally recognized expertise in production systems and operational excellence.
The Strategic Alliance will initially focus on establishing the groundwork for commercial production, and advancing manufacturing excellence, with particular emphasis on further improving productivity, quality, and cost. Going forward, it will also support the expansion of Joby’s production capacity to support aircraft certification and meet anticipated growth in demand for its electric vertical take-off and landing (eVTOL) aircraft.
“Toyota has been by Joby’s side for nearly a decade, providing invaluable guidance and support as we built the foundation for manufacturing our aircraft,” said JoeBen Bevirt, founder and CEO of Joby Aviation. “Today’s announcement reflects the strength of our relationship and our shared confidence in the opportunity ahead. Together, we share a vision of making aerial mobility an everyday reality, and we look forward to delivering on that promise together.”
Akio Toyoda, Chairman of Toyota Motor Corporation, commented: “Since our founding, we’ve been guided by the philosophy of providing mobility for all. Over time, we’ve continued to expand what mobility can mean. We see air mobility as a natural extension of that philosophy―from the ground into the sky―and as a way to bring new value to people’s lives and to society. It’s really meaningful for us to take on this challenge together with Joby, a partner that shares the same vision. We believe this strengthened relationship is an important step forward in realizing the future mobility society.”
Going forward, both companies will continue to work closely together through this Joint Venture, leveraging their respective strengths to bring air mobility to society on a broader scale.
Outline of the JV Company
| Company name | Joby Toyota Aero Manufacturing Preparation Company |
|---|---|
| Representative or CEO | Yosuke Tsuruta |
| Location | United States, California |
| Share | Toyota 51%, Joby 49% |
