JAKARTA - Toyota Motor Corp. is getting deeper into the air mobility business. The Japanese automaker is teaming up with U.S. startup Joby Aviation Inc. to form a joint venture that will prepare the production of electric "flying cars".
Launching a report by Kyodo News, Wednesday, July 1, the joint venture will produce electric aircraft developed by Joby. In the initial phase, this cooperation is focused on preparing the basis for commercial production.
Toyota said the partnership would also help Joby expand production capacity. Demand for electric vertical takeoff and landing aircraft, or eVTOLs, is expected to increase in the coming years.
The joint venture is called Joby Toyota Aero Manufacturing Preparation Co. and is based in California. Toyota owns 51 percent of the shares, while the rest is owned by Joby Aviation.
Joby is an air taxi company based in California. The company is developing eVTOL, an electric plane that can take off and land vertically. Simply put, this vehicle does not require a long runway like a regular plane.
According to a Kyodo News report, Toyota has been an investor in Joby. This latest deal shows that Toyota is not only an investor, but also enters the production stage.
This deal shows that major automotive manufacturers are starting to see air mobility as a new market. However, commercial flying taxi services still have to overcome technical, regulatory, and safety challenges before they can actually become part of daily transportation.
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