Electric aircraft developer Joby Aviation (NYSE: JOBY) has signed a long-term agreement with Toyota to supply key powertrain and actuation components for the production of Joby’s aircraft.
Toyota is Joby’s largest external shareholder, having invested around $400 million in the company, and the automaker has collaborated on a variety of projects to support the production of the Joby aircraft, including advising on the design of Joby’s pilot production line.
The new components, designed by Joby and manufactured by Toyota, will be delivered to Joby’s powertrain and electronics manufacturing facility in San Carlos, California, before the finished assemblies are shipped to its pilot production line in Marina for integration.
Joby is working with Toyota subsidiary Aero Asahi on an air taxi shuttle service for Toyota-related passengers in Japan. Joby has formally applied to the Japan Civil Aviation Bureau to validate its planned FAA aircraft type certification.
“Our partnership with Toyota continues to be an integral part of Joby’s success, from assisting in the design of our pilot production line in Marina, California, to supplying key components for our aircraft,” said JoeBen Bevirt, founder and CEO of Joby. “Their expertise and knowledge has helped put us on track to deliver, at scale, an aircraft that we believe is truly best-in-class.”
Source: Joby Aviation