Toyota invests $849 million in flying car industry, will the future air also have traffic jams?
WilliamOct 09, 2024, 11:36 AM
Recently, Toyota and electric flying car start-up Joby Aviation jointly announced that Toyota will invest an additional $500 million in Joby to support Joby's ongoing certification of its electric vertical takeoff and landing aircraft, and to accelerate cooperation between the two companies in commercial production. It is reported that Toyota's investment in Joby will be divided into two parts, the first investment will be completed this year, and the second investment will be arranged in 2025.
Toyota and Joby have been working together for nearly 7 years. In January 2020, Joby announced that it had raised $590 million in a Series C funding round, with major investor Toyota investing $394 million. Including this additional investment of $500 million, Toyota's total investment in Joby has reached $894 million.
It is reported that Joby relies on Toyota's manufacturing experience to build a pilot production line in Marina, California. The two companies signed a long-term agreement in 2023 that Toyota will provide key powertrains and drive parts for Joby's aircraft. Joby said that they expect to have four aircraft undergoing flight tests by the end of this year, and they are currently certifying their aircraft with the Federal Aviation Administration.
Flying cars are a fusion of aircraft and cars, freely switching between flight and ground driving. This type of vehicle can take to the air in times of road congestion, avoiding the inconvenience caused by traffic congestion. Because of various standards and cost control issues, flying cars have not yet become widespread, but the image of flying cars has always appeared in future sci-fi movies. As major car manufacturers turn their attention to the research of flying cars, it is believed that the development of aerial transportation will be greatly promoted in the future.
(Xpeng Voyager X2)
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