Toyota Invests Additional $500 Million In Electric Flying Taxis

“Toyota” invests another 500 million dollars in the company “Joby Aviation” in partnership to start the commercial business of that American air-taxi company.

“Toyota’s” investment will be used to support the certification and production of a helicopter-like aircraft for taxi services, both companies announced today, the AP agency reported. The total investment of “Toyota” in it amounts to 894 million dollars, which means that “Toyota” will own 22 percent of the shares of the company in which it invests.

The investment is based on almost seven years of cooperation between the two companies, said Joe Ben Bevirt, founder and CEO of Joby Aviation.

“Toyota’s knowledge and support has been key to our success… as we realize our shared vision for the future of air travel,” he added.

Joby Aviation says it has recently built its third aircraft and is in the process of issuing the fourth of five certificates.

Last year, the two companies signed a long-term contract under which “Toyota” supplies engines and other components of the new air taxi.

It was announced on the Internet that the “Joby” air taxi for commercial purposes has room for four passengers and a pilot. It can travel up to 240 kilometres with a single battery charge at a maximum speed of 320 kilometres per hour, and the maximum payload is 453 kilograms. It is designed to take off and land vertically like a helicopter and transition to horizontal flight like an aeroplane. Almost completely silent in flight, during takeoff and landing it is 100 times quieter than a helicopter.

“Joby” plans mass production and to provide transport services at the request of clients.

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