With ten years of research and development experience, Joby Aviation has become a leader in the development of eVTOL aircraft which combine elements of helicopters and small airplanes, offering benefits that include high reliability, zero emissions, fast flight speeds and quiet operations. The company is developing an aircraft that offers lower operating costs and lower costs of maintenance, while enhancing reliability and safety features.
Joby Aviation’s aircraft is a piloted, five-seat vehicle capable of both vertical takeoff and landing and highly efficient, wingborne forward flight. It is capable of speeds of 200 miles per hour and can fly over 150 miles on a single charge. The aircraft is 100 times quieter than conventional aircraft during takeoff and landing, and near-silent when flying overhead. The passenger experience is optimized for comfortable ride-sharing operations and efficient entry and exit.
Joby just announced that it has closed its Series C funding round with a total of $590 million in financing. Toyota demonstrated its commitment to providing “Mobility for All” by contributing $394 million of the total. In addition to Toyota’s large investment in Joby, the transforming automotive manufacturer will share its expertise in manufacturing, quality and cost controls for the development and production of Joby Aviation’s breakthrough eVTOL aircraft. Joby’s design is well matched to serve the needs of an emerging air transportation market where commuters and travelers embrace the benefits of aviation on a daily basis within and between urban centers. More details of the prototype aircraft and production plans will be announced at a later date.
Joby Aviation founder and CEO JoeBen Bevirt said: “This collaboration with Toyota represents an unprecedented commitment of money and resources for us, and for this new industry, from one of the world’s leading automakers. Toyota is known globally for the quality and reliability of their products driven by meticulous attention to detail and manufacturing processes. I am excited to harness Toyota’s engineering and manufacturing prowess to drive us toward our dream of helping a billion people save an hour+ commuting time every day.”
“Air transportation has been a long-term goal for Toyota, and while we continue our work in the automobile business, this agreement sets our sights to the sky,” said Toyota President and CEO Akio Toyoda. “As we take up the challenge of air transportation together with Joby, an innovator in the emerging eVTOL space, we tap the potential to revolutionize future transportation and life. Through this new and exciting endeavor, we hope to deliver freedom of movement and enjoyment to customers everywhere, on land, and now, in the sky.”
Why it’s important: The collaboration between Joby and Toyota reflects Toyota’s recognition of the long-term potential of the urban air mobility market to meet the evolving needs of society, as well as Joby’s position as an industry leader in working to deliver safe and affordable air travel to everyone. Both companies believe that leveraging synergies with the automobile technologies as well as integrating best practices from the Toyota Production System will help facilitate the efficient mass production of these aircraft, while also helping Joby deliver high quality, durable and reliable aircraft, and meeting exacting safety standards.
Source // Joby Aviation