Toyota Motor Stock Price, News & Analysis

Joby Aviation (NYSE:JOBY) has entered a long-term agreement with Toyota Motor Corporation (NYSE:TM) for the supply of critical powertrain and actuation components necessary for its all-electric aircraft. This partnership builds on the existing collaboration, with Toyota as Joby's largest external investor, contributing approximately $400 million to the company. The agreement aims to enhance Joby's production capabilities, leveraging Toyota's expertise in high-volume manufacturing while aiming for the mass production of eVTOL aircraft. Joby is also developing an air taxi service in Japan, working with Toyota's subsidiary Aero Asahi and has applied for FAA certification, indicating potential expansion in urban air mobility.

Toyota has received a Zero Emission Powertrain (ZEP) Executive Order from the California Air Resources Board (CARB) for its new heavy-duty fuel cell electric powertrain kit. This certification allows manufacturers of heavy-duty trucks to qualify for incentives aimed at promoting zero-emission vehicles. Toyota plans to begin assembling more efficient fuel cell modules for hydrogen-powered trucks at its Kentucky plant later this year. The certified powertrain kit includes essential components like hydrogen fuel storage tanks and fuel cell stacks, representing a substantial shift from traditional diesel powertrains. Toyota's commitment to hydrogen technology spans nearly 30 years, with advancements leading to this significant regulatory achievement, highlighting its role in reducing heavy-duty transport emissions.