Joby Aviation Closes $250 Million Investment From Toyota

<p class&equals;"CosmicText transition duration-333 text-base font-sans leading-1&period;5"><strong>SANTA CRUZ —<&sol;strong> Joby Aviation&comma; Inc&period;&comma; a company developing electric air taxis for commercial passenger service&comma; announced the successful closing of the first &dollar;250 million tranche of a previously announced strategic investment from Toyota Motor Corporation&period; The funding marks a significant milestone in strengthening the long-term collaboration between the two companies and supports their shared vision for the future of air mobility&period;<&sol;p>&NewLine;<p class&equals;"CosmicText transition duration-333 mt-6 mb-6 text-base font-sans leading-1&period;5">The investment is aimed at supporting certification and commercial production of Joby’s electric air taxi&period; This underscores the mutual commitment to deepening integration and delivering next generation travel to global markets&period; This investment also puts the two companies a step closer toward a strategic manufacturing alliance&period;<&sol;p>&NewLine;<p class&equals;"CosmicText transition duration-333 mt-6 mb-6 text-base font-sans leading-1&period;5">&OpenCurlyDoubleQuote;We’re already seeing the benefit of working with Toyota in streamlining manufacturing processes and optimizing design&comma;” said JoeBen Bevirt&comma; founder and CEO of Joby&period; &OpenCurlyDoubleQuote;This is an important next step in our alliance with Toyota to scale the promise of electric flight&period; With this capital and Toyota’s legendary production expertise&comma; we’re enhancing our ability to scale cutting-edge design and manufacturing to meet the demands of our partners and customers&period;”<&sol;p>&NewLine;<p class&equals;"CosmicText transition duration-333 mt-6 mb-6 text-base font-sans leading-1&period;5">&OpenCurlyDoubleQuote;This milestone further cements the collaboration and alignment between our two companies&comma;” said Tetsuo &OpenCurlyDoubleQuote;Ted” Ogawa&comma; CEO of Toyota North America&period; &OpenCurlyDoubleQuote;Our investment in Joby reflects our shared dream of mobility for all and our commitment to achieving a future of air mobility&period;”<&sol;p>&NewLine;