Toyota Puts Nearly $1 Billion Into Electric Aviation Startup

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Electrical aviation is an interesting matter. And once we speak about electrical aviation, we’re usually speaking about vertical take-off and touchdown (VTOL) plane in fact. There’s been numerous curiosity and hype round electrical VTOL plane for the previous a number of years, however nobody’s actually utilizing them but — and that may make it seem to be they’re by no means going to be value aggressive and dwell as much as their hype. However this brings to thoughts a typical maxim in terms of new tech: it may really feel prefer it’s taking eternally for something to vary, after which a ton can change all of sudden. Battery expertise and prices hold getting higher, and that brings us nearer and nearer to industrial electrical flight.

With that in thoughts, latest information from Toyota is an enormous rubber stamp on the concept we must always nonetheless be taking note of and enthusiastic about electrical VTOL plane. The Japanese big, nonetheless the most important automaker on the planet, has introduced that it’s going to “invest an additional $500 million to support the certification and commercial production of Joby’s electric air taxi, with the aim of realizing the two companies’ shared vision of air mobility.”

I feel Joby was first lined on CleanTechnica in 2017. 5 years later, in 2021, Michael Barnard defined his skeptical take on Joby and other electric VTOL aircraft. But, the business plows ahead … whereas nonetheless not having industrial VTOL companies. Perhaps Toyota will assist us get there?

Notably, a Joby eVTOL plane completed the primary electrical VTOL flight over New York Metropolis almost a yr in the past, and eight months in the past Joby launched an air taxi in Dubai. Now, we get information that “Toyota will invest an additional $500 million to support the certification and commercial production of Joby’s electric air taxi, with the aim of realizing the two companies’ shared vision of air mobility.”

With this further $500 million, Toyota Motor Company’s whole investments into Joby now come to $894 million! That’s numerous religion Toyota is placing into this small child model within the electrical flight area.

“Joby continues to make important progress towards commercialization, recently rolling its third aircraft off its pilot production line in Marina, CA, and breaking ground on an expanded facility in California that will more than double the Company’s manufacturing footprint. In August 2024, it confirmed that the fourth of five stages of the type certification process is now more than one-third complete on the Joby side.”

So, it appears like one thing is going on. We may see notable progress on electrical air taxis within the coming few years. However we’ll see how lengthy it truly takes.

“Today’s investment builds on nearly seven years of collaboration between our companies,” stated JoeBen Bevirt, founder and CEO, Joby Aviation. “The knowledge and support shared by Toyota has been instrumental in Joby’s success and we look forward to deepening our relationship as we deliver on our shared vision for the future of air travel.”

“With this additional investment, we are excited to see Joby certify their aircraft and shift to commercial production,” stated Tetsuo “Ted” Ogawa, who signed the settlement because the Working Officer on behalf of Toyota Motor Company. “We share Joby’s view that sustainable flight will be central to alleviating today’s persistent mobility challenges.”

Progress. What’s subsequent?