Joby Aviation and Toyota form joint venture for eVTOL production

Joby Aviation, Inc. (NYSE: JOBY) and Toyota Motor Corporation (Tokyo: 7203) announced the formation of a joint venture on June 30, 2026, marking the initial phase of a strategic manufacturing alliance aimed at developing commercial production capability for electric air taxi aircraft.

The joint venture will initially focus on establishing commercial production groundwork and advancing manufacturing quality, productivity, and cost efficiency. It will also support expansion of Joby's production capacity to assist with aircraft certification and meet anticipated demand for its electric vertical take-off and landing (eVTOL) aircraft.

JoeBen Bevirt, founder and CEO of Joby Aviation, said in a statement: "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."

Akio Toyoda, Chairman of Toyota Motor Corporation, said: "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."

Joby Aviation is a California-based company developing an all-electric, vertical take-off and landing air taxi. Toyota (NYSE: TM) employs nearly 64,000 people in North America and operates 14 manufacturing plants in the region.

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