Joby and Toyota launch joint venture for air taxi production

• Toyota will control the joint venture with three of five board directors and 51% ownership, while Joby holds 49% and grants exclusive S4 manufacturing rights with royalty-free intellectual property licensing
• The S4 is a six-rotor electric vertical takeoff and landing aircraft that can carry a pilot and four passengers, combining helicopter-like takeoff with airplane-like level flight
• Joby recently completed week-long test demonstration flights in New York City as air taxi companies compete to secure regulatory approvals and commercialize electric aircraft for urban transportation

Summary

Key Development: Joby Aviation and Toyota Motor announced a joint venture on June 30 to manufacture Joby's S4 series electric air taxis, marking a significant step toward commercializing electric vertical takeoff and landing (eVTOL) aircraft for urban transportation.

Joint Venture Structure:

• The entity, named Joby Toyota Aero Manufacturing Preparation Company (JTAMPC), will have Toyota as majority owner with 51% stake and Joby holding 49%
• Governance includes five directors: three from Toyota and two from Joby
• Joby will grant JTAMPC exclusive manufacturing rights for the S4 Series aircraft with royalty-free intellectual property licensing

Product Details:

The S4 is a six-rotor electric aircraft capable of vertical takeoff and landing like a helicopter while flying horizontally like an airplane. It accommodates one pilot and four passengers.

Market Context:

Air taxi manufacturers are racing to secure regulatory approvals and commercialize all-electric aircraft to meet rising demand for faster, more sustainable urban transportation solutions. Joby previously conducted a week-long demonstration of air taxi flights in New York City earlier in 2026.

Implications:

This partnership leverages Toyota's manufacturing expertise to accelerate Joby's path to commercial deployment. The joint venture positions both companies strategically in the emerging urban air mobility sector as Joby pursues government approval for commercial operations. Toyota's majority stake and board control suggest significant commitment to the eVTOL market, while Joby gains access to world-class production capabilities essential for scaling operations.