Toyota recently made a $349 million USD investment in a flying taxi company, named Joby Aviation. Following the investment, the two organizations will work to produce an eVolt. Joby Aviation will focus on developing the vehicle, while Toyota will contribute is manufacturing expertise. Along with the investment, the Executive Vice President of Toyota Motor Corporation, Shigeki Tomoyama, will be added to the Joby Aviation board of directors.
Akio Toyoda, the CEO of Toyota Motor Corporation, spoke about the organization's decision to invest in the flying taxi company, "Air transportation has been a long-term goal for Toyota, and while we continue our work in the automobile business, this agreement sets our sights to the sky."
Image Credit: Joby Aviation