Toyota invests US$394 million in flying car company

Toyota invests US$394 million in flying car company

Toyota recently announced it has invested US$394 million (close to RM1.6 billion) in Joby Aviation, an aerospace company that is developing and commercialising an all-electric vertical take-off and landing (eVTOL) aircraft.

Aside from the significant sum invested, which makes Toyota the lead investor in Joby’s USD590 million Series C financing, the carmaker will also share its expertise in manufacturing, quality and cost controls for the development and production of Joby’s eVTOL aircraft.

According to Joby’s website, the vehicle is a four-passenger air taxi that is capable of hitting speeds of up to 322 km/h and travel more than 241 km on a single charge. It is also touted as being “100 times quieter than conventional aircraft during takeoff and landing, and near-silent when flying over.” Other plus points mentioned include low operating and maintenance costs as well as enhanced safety features.

Toyota has the collaboration reflects its recognition of the long-term potential of the urban air mobility market to meet the evolving needs of society. “Air transportation has been a long-term goal for Toyota, and while we continue our work in the automobile business, this agreement sets our sights to the sky,” said Akio Toyoda, president and CEO of Toyota Motor Corporation.

Toyota invests US$394 million in flying car company

“As we take up the challenge of air transportation together with Joby, an innovator in the emerging eVTOL space, we tap the potential to revolutionize future transportation and life. Through this new and exciting endeavor, we hope to deliver freedom of movement and enjoyment to customers everywhere, on land, and now, in the sky,” he added.

Meanwhile, JoeBen Bevirt, founder and CEO of Joby Aviation, commented, “this collaboration with Toyota represents an unprecedented commitment of money and resources for us, and for this new industry, from one of the world’s leading automakers.:”

“Toyota is known globally for the quality and reliability of their products driven by meticulous attention to detail and manufacturing processes. I am excited to harness Toyota’s engineering and manufacturing prowess to drive us toward our dream of helping a billion people save an hour (or more) commuting time every day,” he added.

This isn’t the first time Toyota has invested in a flying car company, as back in 2017, it provided 42.5 million yen (about RM1.5 million) to Japanese startup Cartivator to develop its SkyDrive eVOTL two-person multicopter.

Looking to sell your car? Sell it with Carro.

Certified Pre-Owned - 1 Year Warranty

10% discount when you renew your car insurance

Compare prices between different insurer providers and use the promo code 'PAULTAN10' when you make your payment to save the most on your car insurance renewal compared to other competing services.

Car Insurance

Gerard Lye

Originating from the corporate world with a background in finance and economics, Gerard’s strong love for cars led him to take the plunge into the automotive media industry. It was only then did he realise that there are more things to a car than just horsepower count.

 

Comments

  • Helicopter on Jan 17, 2020 at 4:14 pm

    flying car is called an aeroplane.

    Like or Dislike: Thumb up 5 Thumb down 2
    • Celup King on Jan 17, 2020 at 5:42 pm

      Elsewhere its an oversized drone

      Like or Dislike: Thumb up 2 Thumb down 2
    • Awang Selamat on Jan 18, 2020 at 10:37 am

      ha ha ha ha, all those who kutuk our flying cars now diam only like monyet.

      Toyota, largest company in the world already moving into this.

      Jangan jadi jaguh kampung la bang. Asyik makan ketupat dengan Opah sampai tak boleh fikir pun

      Like or Dislike: Thumb up 5 Thumb down 10
      • English Teacher on Jan 18, 2020 at 6:54 pm

        You really should learn how to write properly. Either stick to English or just write in BM. You here writing rojak, making what you’re trying to say incomprehensible nor understandable.

        And you make it too stark that you’re a non-Malay speaker when you’re just sprinkling your with Malay words here and there. You make it too obvious you’re trying to be who you pretend you’re not.

        I suggest you either get professional psychological help, or improve lingual PR skills for whatever sinister agenda you are trying to convey.

        Like or Dislike: Thumb up 8 Thumb down 5
    • potato on Jan 20, 2020 at 11:48 am

      it can also be called a Helicopter, Space Shuttle, or UFO.

      Like or Dislike: Thumb up 1 Thumb down 0
  • Pipu spend RM 1.6B to enter flying car and Bapak Flying Car think he can do the same with Rm 20mil? That oso is our own money. Konpem this will be a sinkhole if PH still in power. HAHAHAHAHAHAHAHAHAHAHAHA!!!!

    Like or Dislike: Thumb up 20 Thumb down 5
    • Mohammad Johan Ariffin on Jan 18, 2020 at 10:49 am

      You are right, he and his team are the same type of people as Job’s people. We need more Mainland people here to teach us how to invest well and do business properly.

      Most of Bapak’s people come from Uitm, Mara, UIA and MRSM. We cannot expect much from them

      Like or Dislike: Thumb up 4 Thumb down 4
      • Rakyat Malaysia on Jan 18, 2020 at 3:11 pm

        Thank you for pointing out we are all at same calibre as Steve Job. That really showed how much untapped potential from our Uitm, Mara, UIA and MRSM. We expect them to reach ever greater success than currently.

        Like or Dislike: Thumb up 6 Thumb down 0
        • Job is a Yahudi. They have invented all the latest gadgets, wjatsapp, Intel etc. Abang2 have invented nothing. So cannot compare lah

          Like or Dislike: Thumb up 0 Thumb down 2
          • Calvin on Jan 19, 2020 at 4:50 pm

            If you talking about that Job, he oso banged his daughters too. Yes, he invented the trend of fathers banging daughters. Well done Yahudis. Luckily abang2 invented more important innovations like empiric science. All these latest gadgets, Intel, etc was born from abang2 invention of science. Kudos to our abang2.

            Like or Dislike: Thumb up 5 Thumb down 1
  • seancorr (Member) on Jan 17, 2020 at 4:40 pm

    Wow this looks like a proper flying car. Meanwhile in Malaysia…

    Like or Dislike: Thumb up 4 Thumb down 0
    • labiz9 on Jan 17, 2020 at 7:36 pm

      still look the same la like ours .. u think the usual design can fly??

      Like or Dislike: Thumb up 0 Thumb down 1
      • Lolwhut? on Jan 18, 2020 at 12:45 am

        Toyota ones dont use KDK fans lol

        Like or Dislike: Thumb up 4 Thumb down 0
        • Jamaluddin on Jan 18, 2020 at 2:48 pm

          Malaysian flying cars are all invented by Uitm graduates. You cannot expect much from them

          Like or Dislike: Thumb up 1 Thumb down 1
          • Fake News on Jan 19, 2020 at 1:37 am

            Flying car is not a Uitm project but PH project. Get your facts right.

            Like or Dislike: Thumb up 4 Thumb down 0
  • Meh! Our national flying car is even better. Either you get with KDK fans or get your legs chopped off by the rotating blades.

    Like or Dislike: Thumb up 6 Thumb down 1
  • stop this madness! its not flying car ffs. call it whatever u want except car

    Like or Dislike: Thumb up 1 Thumb down 1
  • vivizurianti on Jan 17, 2020 at 7:07 pm

    Hey Toyota. Better invest your money in Malaysia for the best flying car deal. Our high IQ minister 1000% vouched our national flying car.

    Besides being a national flying car, the car’s propellers can be adjusted to function as cooling fan, Just like KDK models.

    Like or Dislike: Thumb up 2 Thumb down 0
  • why call it flying car when it is not a car at all ^^

    Like or Dislike: Thumb up 2 Thumb down 1
 

Add a comment

required

required