The Future Is Here: Air Taxi Company Shares Spike After Inking Deal With Toyota

Air taxi company Joby Aviation saw its shares spike 20% after inking a deal with Toyota.

Joby Aviation, which produces electric air taxis, received $250 million from Toyota in an investment deal.

CEO and founder of Joby Aviation Joe Ben Bevirt stated, “We’re already seeing the benefit of working with Toyota in streamlining manufacturing processes and optimizing design.”

He added, “This is an important next step in our alliance with Toyota to scale the promise of electric flight.”

Toyota just became $JOBY Aviation’s biggest shareholder with a 15.3% stake after investing $250M—the first half of a $500M commitment. The move brings Toyota’s total funding in the eVTOL maker to $894M, as Joby targets commercial air taxi service in Dubai by early 2026. – BBG pic.twitter.com/RVRdGZ9rpI

— Wall St Engine (@wallstengine) May 28, 2025

Take a look at the air taxis here:

The future is arriving now…

…and it’s made in America. Not one, but two Joby air taxis, flying side by side in the skies over California.

As soon as next year, these aircraft will be taking to the skies above Los Angeles and New York City.

Read more in our press release:… pic.twitter.com/NG6t5twYQD

— Joby Aviation (@jobyaviation) May 12, 2025

Here’s what CNBC reported:

Joby Aviation shares jumped 20% Wednesday after the maker of electric air taxis said it received $250 million from Toyota.

The payment is part of a previously announced deal from the carmaker to invest $500 million in the company to support certification and commercial production of its electric air taxis. Toyota announced the deal in October.

“We’re already seeing the benefit of working with Toyota in streamlining manufacturing processes and optimizing design,” said CEO and founder JoeBen Bevirt in a release late Tuesday. “This is an important next step in our alliance with Toyota to scale the promise of electric flight.”

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Joby also added that the deal reinforces the “mutual commitment to deepening integration and delivering next generation travel to global market.”

Joby makes electric vertical takeoff and landing aircrafts (eVTOL) which take off and land like helicopters. Developers say the technology can be used to reduce traffic congestion and emissions.

🇯🇵🇺🇸 FLYING UBERS? TOYOTA: “YEAH, WE’RE IN”

Toyota dropped $250 million on flying taxi startup Joby Aviation and is now its biggest shareholder.

That’s more than Joby’s own CEO owns. Awkward.

The deal bumps Toyota’s total backing to nearly $900 million.

Joby wants to launch… https://t.co/TdhICNy6ux pic.twitter.com/R4siLZPRDy

— Mario Nawfal (@MarioNawfal) May 28, 2025

Per Money Morning:

Shares of Joby Aviation (JOBY) are rocketing 25% higher in morning trading Wednesday after the robotaxi stock received a $250 million investment from Japanese automaker Toyota (TM).

It is the first milestone payment installment of a planned $500 million total, and makes the carmaker the largest shareholder in the electrical vertical takeoff and landing aircraft manufacturer. Toyota now owns 15.3% of JOBY stock, more than that of Joby CEO JoeBen Bevirt.

Joby has been expecting the investment since the end of last year and it expects the second milestone payment to come later this year. The planned payments were announced last October.

The robotaxi stock had planned to begin commercial operations in Dubai in the second half of 2025, but has postponed the launch of its air taxi services to early 2026. Rival Archer Aviation (ACHR) says it is “on track” to commercially launch later this year in Abu Dhabi.