Toyota: new $500m investment in Joby Aviation

(CercleFinance.com) - Toyota has announced an additional $500m investment in Joby Aviation, a company developing electric air cabs for commercial passenger transport.


This investment will support the certification and commercial production of Joby's electric air cab, with the aim of realizing the two companies' shared vision for air mobility.

The investment, which will be made in two equal tranches, is subject to standard regulatory approvals and certain other conditions, the finalisation of collaborative and commercial agreements and, with regard to the second tranche, the finalisation of conditions related to a strategic alliance focused on commercial manufacturing and certain other conditions.

This transaction will bring Toyota Motor Corporation's total investment in Joby to $894m.

It will be made in the form of a cash-for-common stock exchange, with the first tranche to close later this year and the second in 2025.


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