2 weeks Ago By Laura Dobberstein
Joby Aviation – backed by Japanese automotive giant Toyota – conducted Japan's first electric vertical takeoff and landing aircraft (eVTOL) flight test over the weekend, edging closer to the reality of flying taxis. "We are here today to celebrate Joby's successful exhibition flight earlier this week, their first time to fly the air taxi eVTOL outside the United States. The dream that Joby and Toyota have envisioned for air mobility is finally coming close to fruition," claimed Toyota CTO Hiroki Nakajima, speaking from the event in Shizuoka, Japan.
He boasted that a flight to Shizuoka from Tokyo onboard Joby's air taxi eVTOL would take 25 minutes – compared to up to two hours in a road vehicle. According to Joby founder and CEO JoeBen Bevirt, the air taxi aspirant has completed "a number of exhibition flights" over the course of a few days. "Toyota has now invested in Joby on multiple occasions, but more importantly, they've stood next to us in our facilities.
They've helped us design tools. They've advised us on the layout of our factories. They even provide parts that go in the aircraft," extolled Bevirt of his startup's agreement with the Japanese automaker.
He claimed that Joby intends to start commercial passenger operations as soon as next year and is working with global partners in Japan that include Uber, Delta Air Lines, and ANA. Joby has already applied to the nation's civil aviation regulator, Japan Civil Aviation Bureau (JCAB), for certification. Toyota announced last month it was investing $500 million in the air taxi enterprise, adding to the $394 million it had already put in.
The $500 million injection comes in two equal parts: the first half was distributed in 2024 and the second is due next year. The funds are intended to support certification and commercial production of Joby's electric air taxi, and investment terms include establishing a manufacturing agreement for the first half of commercialization. While Toyota remains Joby's biggest investor, Delta Airlines picked up a 2 percent stake in the company in 2022 when it invested $60 million.
Joby remains one of the most promising flying taxi businesses, having placed fourth in August 2024's AAM Reality Index – a rating tool designed to assess the progress of players in the industry. First place went to Volocopter, second to China's EHang, and third to Beta Technologies. Boeing's Wisk placed eighth.
Many have found funding to be the big challenge. Germany's Lilium stands on the brink of insolvency. The UK's Vertical Aerospace is also understood to be experiencing cash flow problems.
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