Key facts
- Joby Aviation and Toyota Motor have formed a joint venture called Joby Toyota Aero Manufacturing Preparation Company (JTAMPC).
- The JV will focus on producing Joby's S4 series electric vertical takeoff and landing (eVTOL) aircraft.
- Toyota will hold a 51% stake in the joint venture, while Joby Aviation will own 49%.
- Joby Aviation will grant JTAMPC exclusive rights to manufacture the S4 aircraft and license relevant intellectual property on a royalty-free basis.
- Joby Aviation's shares increased by 7% in premarket trading after the announcement.
Joby Aviation and Toyota Motor have announced the formation of a joint venture, the Joby Toyota Aero Manufacturing Preparation Company (JTAMPC), aimed at producing Joby's S4 series electric air taxis. Toyota will be the majority stakeholder with a 51% ownership, while Joby Aviation will hold the remaining 49%.
The agreement grants JTAMPC exclusive rights to manufacture the S4 aircraft and license the relevant intellectual property on a royalty-free basis. This collaboration is part of Joby's broader strategy to secure government approvals and commercialize its electric vertical takeoff and landing (eVTOL) aircraft for urban transportation.
Joby's S4 is a six-rotor electric aircraft designed for vertical takeoff and landing, similar to a helicopter, and capable of horizontal flight like an airplane. It is configured to carry a pilot and four passengers. The announcement saw Joby Aviation's shares rise by 7% in premarket trading.