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TM delays U.S. EV production to early 2026, pushing back plans to assemble a three-row electric SUV at its Kentucky plant, initially set for 2025.
The latest $500 million commitment brings TM's total investment in JOBY to $894 million.
Joby Aviation (NYSE: JOBY) has received an additional $500 million investment from Toyota (NYSE: TM) to support certification and production of its electric air taxis. This brings Toyota's total investment in Joby to nearly $900 million.
Joby Aviation's NYSE: JOBY technology has been again validated. The latest news is a follow-on investment from Toyota Motor NYSE: TM, one of the company's earliest investors and a long-time proponent of personal air capability.
The company's new all-electric SUV will be pushed back to 2026, according to a Nikkei report.
Toyota (TM, Financial) has announced a delay in its North American electric vehicle production until the first half of 2026, attributed to design adjustments and slowing EV sales. The Japanese automaker informed suppliers that the launch of its first all-electric model in the Kentucky plant, a three-row SUV, will be postponed by a few months.
Toyota Motor Corporation announced an additional investment of $500 million in Joby Aviation, an electric flying car startup. This funding aims to support Joby's efforts to certify its electric vertical takeoff and landing (eVTOL) aircraft and expedite the commercialization process.
Toyota Motor (NYSE:TM) has announced a $500 million investment in Joby Aviation Inc (NYSE:JOBY), increasing its stake in the air taxi firm as the company aims to launch commercial services next year. The cash injection strengthens the partnership between the two companies, focusing on scaling production and commercialising Joby's electric vertical take-off and landing aircraft.
Japanese automaker Toyota Motor would postpone the production of electric vehicles at its Kentucky plant in the US to the first half of 2026, citing design adjustments and slowing sales, the Nikkei business daily reported on Thursday.