Toyota Eyes $425B Urban Air Mobility Market as Joby Moves Toward FAA Certification
Toyota’s partnership with Joby Aviation supports development of FAA-certified eVTOL aircraft as Joby nears certification with an $8.3 billion valuation and hundreds of millions in R&D. Urban air mobility market projected to reach $425 billion by 2040.
1. Collaboration with Joby Aviation
Toyota formed a strategic partnership with Joby Aviation, providing investment support and leveraging its manufacturing expertise to help scale Joby’s Dayton production facility and co-develop the eVTOL aircraft platform.
2. Certification and Market Opportunities
Joby Aviation is advancing through final FAA type certification stages with an $8.3 billion valuation, positioning Toyota to benefit from urban air mobility demand projected to reach $425 billion by 2040.
3. Financial Implications for Toyota
Toyota’s exposure through Joby entails R&D and capital commitments but offers long-term growth potential beyond automotive, with commercialization aimed at the 2035 timeframe and revenue upside tied to eVTOL service deployments.