Joby Aviation and Toyota Motor Corporation Launch Initial Phase of a Strategic Manufacturing Alliance to Realize Air Mobility for All
Toyota (NYSE:TM) and Joby Aviation (NYSE:JOBY) launched the initial phase of a strategic manufacturing alliance, creating a joint venture to advance all-electric air taxi production.
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Rhea-AI Summary
Toyota (NYSE:TM) and Joby Aviation (NYSE:JOBY) launched the initial phase of a strategic manufacturing alliance, creating a joint venture to advance all-electric air taxi production.
The alliance focuses on groundwork for commercial production, improving productivity, quality and cost, and expanding Joby’s eVTOL capacity for certification and expected demand.
Positive
- Strategic joint venture with Joby to develop air mobility manufacturing
- Leverages Toyota’s production systems to enhance productivity, quality and cost
- Supports scale-up of Joby’s eVTOL production for anticipated demand
- Strengthens Toyota’s positioning in next-generation electric air mobility
Negative
- None.
Details
News Market Reaction – TM
On Jun 30, the day this news came out, TM closed 1.72% below the previous close.
Data tracked by StockTitan Argus for the Jun 30 session.
Key Figures
- Sales revenues
- 50,684,952 million yen
- FY2026 consolidated results under IFRS
- Net income
- 3,848,098 million yen
- FY2026 consolidated results attributable to Toyota
- Operating income
- 3,766,216 million yen
- FY2026 consolidated results
- Basic EPS
- 295.25 yen
- FY2026 basic earnings per share
- Capital expenditures
- 2,390.6 billion yen
- FY2026 consolidated capital expenditures
- R&D spending
- 1,522.8 billion yen
- FY2026 consolidated research and development
- Dividend
- 95 yen
- Shareholder-return policy highlighted in FY2026 materials
- Share repurchases
- 3,656.8 billion yen
- Share buybacks largely tied to Toyota Industries tender offer
Historical Context
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TV segment highlighting Environmental Challenge 2050 and carbon-neutrality initiatives.
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Sponsored documentary showcasing U.S. manufacturing and North Carolina battery investment.
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Summer soccer campaign promoting Toyota trucks and engaging Latino fan base.
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Announcement of 10 new CSRC safety projects with multiple universities and partners.
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Unveiling of 2026 GRMN Corolla with higher performance and weight reduction.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
evtol technical
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To build up commercial production capability, advance manufacturing excellence, and prepare for scale-up of electric air taxi production
The Strategic Alliance will initially focus on establishing the groundwork for commercial production, and advancing manufacturing excellence, with particular emphasis on further improving productivity, quality, and cost. Going forward, it will also support the expansion of Joby's production capacity to support aircraft certification and meet anticipated growth in demand for its electric vertical take-off and landing (eVTOL) aircraft.
"Toyota has been by Joby's side for nearly a decade, providing invaluable guidance and support as we built the foundation for manufacturing our aircraft," said JoeBen Bevirt, founder and CEO of Joby Aviation. "Today's announcement reflects the strength of our relationship and our shared confidence in the opportunity ahead. Together, we share a vision of making aerial mobility an everyday reality, and we look forward to delivering on that promise together."
Akio Toyoda, Chairman of Toyota Motor Corporation, commented: "Since our founding, we've been guided by the philosophy of providing mobility for all. Over time, we've continued to expand what mobility can mean. We see air mobility as a natural extension of that philosophy—from the ground into the sky—and as a way to bring new value to people's lives and to society. It's really meaningful for us to take on this challenge together with Joby, a partner that shares the same vision. We believe this strengthened relationship is an important step forward in realizing the future mobility society."
Going forward, both companies will continue to work closely together through this Joint Venture, leveraging their respective strengths to bring air mobility to society on a broader scale.
About Joby Aviation
Joby Aviation, Inc. (NYSE:JOBY) is a
About Toyota
Toyota (NYSE:TM) has been a part of the cultural fabric in North America for nearly 70 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands, plus our more than 1,800 dealerships.
Toyota directly employs nearly 64,000 people in North America who have contributed to the design, engineering, and assembly of over 50 million cars and trucks at our 14 manufacturing plants. In 2025, Toyota's plant in North Carolina began to assemble automotive batteries for electrified vehicles.
For more information about Toyota, visit www.ToyotaNewsroom.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the goals and expected benefits of the strategic manufacturing alliance. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including risks related to the ability of the parties to negotiate and execute the additional agreements related to the strategic manufacturing alliance on acceptable terms or at all, delays in regulatory certifications and timelines, changes in market conditions, and other risks described in Joby's filings with the Securities and Exchange Commission. The companies undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date hereof, except as required by applicable law.
MEDIA CONTACTS
Joby Aviation
Investors:
investors@jobyaviation.com
Media:
press@jobyaviation.com
Toyota
Media: Corey Proffitt
corey.proffitt@toyota.com
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SOURCE Toyota Motor North America
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