Toyota invests another $500 million in electric air taxi company focused on the future of air mobility
Toyota has revealed that it has invested a further $500 million in Joby Aviation, a company founded in 2009 that has since been working on the development, production and certification of electric vertical take-off and landing craft (eVTOL).
The second round of funding follows a $394 million capital injection in 2020, and the Japanese auto giant hopes this will accelerate development, aiming to realize the two companies’ “shared vision of air mobility.”
Joby is one of the leading companies in air taxi research and acquired Uber’s start-up Elevate in 2020. Uber also invested $75 million in the venture to accelerate the development and certification process.
According to Toyota, this is not just a financial deal. The company says it has shared its knowledge of the Toyota production system through process planning, production method development and tooling design.
Engineers from the two companies have been working together at Joby’s California factory to establish a viable production method for commercial electric air taxis, while continuing certification remains a priority if we want to see the technology in the skies anytime soon.
According to Joby Aviation, the company is close to completing the fourth of a five-phase type certification process that will allow its aircraft to enter production.
Ready to go
Although a science fiction fantasy, the rise of the electric vertical take-off craft has been rapid in recent years, with the likes of Hyundai Motor Group launching its Supernal business and China’s XPeng HT Aero seriously breaking new ground in this field.
Most companies plan to operate an Uber-style taxi service that allows a small group of customers to ride in a manned eVTOL craft, which resembles a giant drone with multiple rotors. However, there are also plans for unmanned flights on the table.
In the case of Supernal, an operation now owned by the wider Hyundai Motor Group, the SA-2 electric aircraft features a four-seat cabin and eight rotors to get it off the ground, allowing the machine to fly at speeds of up to 200 km/h can be propelled. for rides ranging from 25 to about 40 miles.
The Supernal craft will fly at an altitude of about 1,500 feet and will cruise lower than commercial helicopters and other aircraft, with the aim of avoiding traffic jams and congestion in heavily urbanized areas by hopping from one ‘vertiport’ to another.
In fact one recent market report of the Global Advanced/Urban Air Mobility Market Map team revealed that at least 1,044 eVTOL vertiports currently being developed by numerous global companies could be operational by 2028.
Earlier this year, the Federal Aviation Administration (FAA), which regulates civil aviation in the United States, the airworthiness criteria completed for Joby Aviation’s eVTOL vessel, allowing the company to move forward with type certification.
However, the FAA is just one body, with China having its own unique set of rules and regulations.
This would allow Chinese companies to enjoy more freedoms in testing new technology, giving these companies the potential upper hand in the future of eVTOL transportation.