Toyota and Joby Aviation expand manufacturing joint venture for electric air taxis

Toyota Motor is deepening its partnership with electric air taxi developer Joby Aviation through a new manufacturing joint venture aimed at scaling production of Joby’s aircraft, according to multiple business reports. The update helped lift Joby’s shares on the news Tuesday, reflecting investor focus on whether manufacturing can keep pace with Joby’s commercialization plans.

The manufacturing effort centers on Joby’s all-electric eVTOL (electric vertical takeoff and landing) platform, often referred to by Joby as the S4 aircraft. An eVTOL air taxi is designed to take off and land vertically like a helicopter, while using electric propulsion for short-distance passenger trips, a business model that depends heavily on aircraft availability and predictable unit costs.

In the reported structure, Toyota holds a majority stake in the new manufacturing vehicle. Coverage also indicates Joby retains a minority stake, with earlier reporting describing an arrangement where Joby held 49% and Toyota held the remainder. The exact name and formation details of the venture were not fully laid out in the syndicated posts that surfaced in the market coverage.

One additional public-facing description of the manufacturing alliance, published by a mobility-industry organization, says the joint venture is intended to advance eVTOL production. It frames the work as focused on scaling manufacturing capacity, improving efficiency, and supporting future commercialization of electric air taxis.

For Toyota, the move reflects a broader attempt to position itself in emerging mobility markets rather than relying only on internal combustion and battery-electric vehicle manufacturing. For Joby, manufacturing scale is a critical bottleneck category, because air taxi operators will need a steady supply of aircraft, spares, and standardized systems to run schedules and manage maintenance. A manufacturing JV can also reduce risk by bringing a large industrial partner’s experience in production engineering and supply chain management into the project.

Still, key details about the economics and timeline were not clearly disclosed in the market news items that prompted this update. The reports summarized the JV’s purpose and ownership split, but did not fully specify production targets, capital levels, or when deliveries are expected to begin. Those gaps matter because manufacturing execution and ramp timing often drive how quickly an air-taxi business can convert aircraft development into revenue.

Going forward, investors and industry observers will likely watch for clarity on JV capacity, factory footprint and ramp schedules, and any disclosures tying the manufacturing progress to Joby’s operational milestones. Any additional official statements from Toyota or Joby that outline the venture’s scope and near-term output plans would be the most direct follow-up.