Toyota and Joby Mark Major Step in Air Mobility with First International Electric Air Taxi Flight Demonstration at Japan’s Higashi-Fuji Center

Toyota and Joby Aviation Reach Milestone with First International eVTOL Flight in Japan

SUSONO, Japan & SANTA CRUZ, Calif. — Toyota Motor Corporation (NYSE: TM) and Joby Aviation, Inc. (NYSE: JOBY) announced a significant milestone with the completion of Joby’s first international exhibition flight of an electric vertical takeoff and landing (eVTOL) aircraft. The event took place at Toyota’s Higashi-Fuji Technical Center in Shizuoka, Japan, within view of the iconic Mount Fuji. This achievement underscores the nearly seven-year partnership between Toyota and Joby, a company developing electric air taxis for commercial use.

Key Details of the Historic Flight

The flight event, attended by a variety of industry stakeholders, aimed to showcase the low acoustic footprint and zero-emissions performance of Joby’s aircraft. Toyota engineers, who have been working alongside Joby’s team in California, played a significant role in bringing the project to this stage. This collaboration includes a long-term agreement established in 2023 for Toyota to supply key powertrain and actuation components critical to Joby’s production goals.

JoeBen Bevirt, Founder and CEO of Joby, expressed excitement about the milestone, stating, “Our first overseas flight marks a significant milestone on our journey towards making clean air travel an everyday reality. We share Toyota’s vision for the future of mobility and are honored to have had the opportunity to present a glimpse of that future through our flight in Japan.”

Toyota’s executive vice president and CTO, Hiroki Nakajima, emphasized the potential of air mobility, saying, “Air mobility has the potential to change our ‘sense of distance and time’ and open a future with the new option of air mobility that will further enrich the lives of many people.”

Toyota’s Growing Commitment to Joby and Air Mobility

The exhibition flight comes on the heels of Toyota’s recent decision to invest an additional $500 million in Joby to support the certification and commercial production of its air taxis. This investment brings Toyota’s total contribution to $894 million, signifying a deeper commitment to the future of air mobility. The funds, divided into two tranches, are set to aid Joby’s journey toward regulatory approval and market launch.

In addition to financial backing, Toyota and Joby have initiated plans for a manufacturing alliance to support Joby’s commercialization goals. Toyota’s experience in high-volume manufacturing and technology expertise are instrumental in refining Joby’s production processes, ensuring that the aircraft can be built efficiently and at scale.

Aircraft Specifications and Potential Market Impact

Joby’s electric air taxi is designed to carry a pilot and up to four passengers at speeds reaching 200 mph, providing a high-speed mobility solution that operates with zero emissions and at a fraction of the noise produced by traditional helicopters. By offering a sustainable and efficient mode of transport, Joby aims to address multiple urban and rural transportation challenges globally.

Since its founding in 2009, Joby has completed thousands of test flights, including high-profile demonstration flights from the Downtown Manhattan Heliport in New York City. Joby’s eVTOL aircraft targets the on-demand air taxi market, focusing on serving commuters, business travelers, and tourists in congested urban areas. The aircraft combines features of helicopters, drones, and small airplanes, making it suitable for frequent, short-distance operations.

Toyota’s Historical Investment in Air Mobility

Toyota’s engagement in air mobility dates back nearly a century, when founder Sakichi Toyoda advocated for battery development capable of supporting air travel across the Pacific. This vision continued through successive generations of the Toyoda family, including Kiichiro Toyoda’s involvement in aircraft prototyping post-World War II and Dr. Shoichiro Toyoda’s work on an electronically controlled aero piston engine with an American company. Today, Toyota’s venture with Joby represents the latest chapter in its air mobility endeavors, aiming to create a world where accessible air travel is a reality.

Akio Toyoda, Chairman of Toyota Motor Corporation, attended the exhibition event and highlighted the shared vision between the companies, remarking on the symbolic value of the partnership as it unites Toyota’s automotive expertise with Joby’s ambition in air mobility. “Toyota is committed to deepening our collaboration with Joby, and we will continue to work together to realize our shared dreams,” he stated.

Broader Implications for Air Mobility and Environmental Goals

Joby’s air taxi service aligns with Toyota’s overarching goal to deliver “Beyond Zero” emissions and carbon-neutral solutions. The quiet, emissions-free eVTOLs offer a promising avenue to reduce traffic congestion, lower urban noise pollution, and create sustainable transit options. Joby’s CEO JoeBen Bevirt envisions a future where individuals can navigate urban spaces freely without worrying about traffic, allowing more time with loved ones and increased accessibility to destinations.

This forward-looking project also reflects Toyota’s ongoing evolution as a “mobility company.” In 2023, Toyota introduced electric vehicle manufacturing initiatives at its North Carolina plant, with plans to further develop automotive battery production. The company’s commitment to electrification in both terrestrial and aerial mobility represents a holistic approach to achieving a sustainable future.

Regulatory and Market Challenges Ahead

While this exhibition flight marks significant progress, Toyota and Joby face challenges in navigating regulatory approvals for widespread eVTOL operations. Air mobility is a highly regulated sector, and meeting the safety, noise, and emissions standards required for commercial operation is essential. However, the companies have expressed confidence that their joint expertise in technology and manufacturing will facilitate the necessary steps for certification.

The recent investment and alliance underscore Toyota’s confidence in Joby’s market potential and its readiness to meet regulatory and commercial hurdles. Both companies have filed periodic reports with the U.S. Securities and Exchange Commission, outlining the risks and uncertainties associated with Joby’s developmental path and Toyota’s evolving role in air mobility.

*For additional media assets, including photos and footage of the flight, contact Joby Aviation or Toyota Motor Corporation’s media teams.
*Joby Aviation and Toyota continue to progress towards creating reliable, safe, and efficient electric air taxi services, representing a bold step toward a future of accessible air travel.