Joby, Toyota Announce Joint Venture for Air Taxi Production
The venture gives Toyota 51% ownership and exclusive rights to make Joby’s S4 aircraft as the companies seek approval for commercial deployment.
- On Tuesday, June 30, 2026, Joby Aviation and Toyota Motor Corporation established the Joby Toyota Aero Manufacturing Preparation Company to produce the S4 series air taxi and build commercial production capability.
- "Toyota has been by Joby's side for nearly a decade," CEO JoeBen Bevirt said, as the automaker's total financial commitment to California-based Joby reached $894 million.
- Under the agreement, Toyota will own a controlling 51 percent of the joint venture while Joby holds 49 percent, granting exclusive manufacturing rights and royalty-free intellectual property access.
- Shares of Joby rose 7 percent in premarket trade following the announcement, while the aircraft is capable of seating four passengers and a pilot.
- Joby is working toward Federal Aviation Administration certification to begin commercial flight operations, leveraging this strategic alliance to expand production capacity ahead of expected commercial demand.
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