Joby Aviation and Toyota Motor announced a joint venture on Tuesday to produce the air taxi maker’s S4 series. The companies aim to secure government approval to deploy their commercial electric vertical takeoff and landing aircraft.
Details of the Joint Venture
The Joby Toyota Aero Manufacturing Preparation Company, or JTAMPC, will have two directors from Joby and three from Toyota. Joby will grant the joint venture exclusive rights to manufacture the S4 Series aircraft and license relevant intellectual property on a royalty-free basis. Joby will own 49% of JTAMPC, while Toyota will own the rest.
Earlier this year, Joby conducted a week-long test of the first point-to-point air taxi demonstration flights in New York City. The air taxi is a six-rotor electric aircraft capable of vertically taking off and landing like a helicopter and flying level like an airplane, with room for a pilot and four passengers.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
