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Toyota Invests ¥43 Billion Into Flying Vehicles

Automotive manufacturer Toyota has announced that they will be investing ¥43 billion ($390 million) in the US startup known as Joby Aviation, who has developed a “flying taxi” capable of taking off vertically and without the need of a runway.

Flying vehicles are apparently being seen as an attractive form of travel due to the potential of avoiding traffic congestion – Toyota will be providing Joby Aviation with their production technology and know-how on electrification, they will also help with mass producing the aircraft.

Founded in 2009, Joby Aviation has developed an aircraft known as the “VTOL”, which is capable of launching and landing in a vertical manner, making runways unnecessary – they seek to provide the people with a flying taxi service.

Toyota had previously invested in Joby Aviation in 2018 via venture capital and affiliated companies, but they’ve now decided to invest directly for this collaboration.

Sometime in the future, Toyota has agreed to provide Joby with aid when it comes to technological developments for design, materials, and electrification – they will also instruct them regarding their Toyota Production System (TPS).

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