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Joby Aviation, Inc. stock rose Tuesday after the company and Toyota Motor Corporation formed a joint venture to support commercial production and scale-up of Joby's electric air taxi aircraft.
This builds upon a deep, multi-year collaboration and follows Toyota's massive $500 million investment in Joby in late 2024 to fund aircraft certification and early-stage production
The joint venture, Joby Toyota Aero Manufacturing Preparation Company, will manufacture Joby's S4 Series eVTOL aircraft.
Toyota will hold a 51% stake after buying 1.02 million shares for $1.02 million, while Joby will hold 49% after buying 980,000 shares for $980,000.
Joby Aviation, Inc. stock rose Tuesday after the company and Toyota Motor Corporation formed a joint venture to support commercial production and scale-up of Joby's electric air taxi aircraft.
This builds upon a deep, multi-year collaboration and follows Toyota's massive $500 million investment in Joby in late 2024 to fund aircraft certification and early-stage production
The joint venture, Joby Toyota Aero Manufacturing Preparation Company, will manufacture Joby's S4 Series eVTOL aircraft.
Toyota will hold a 51% stake after buying 1.02 million shares for $1.02 million, while Joby will hold 49% after buying 980,000 shares for $980,000.
4 months ago
