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On June 30 (local time), automotive giant Toyota Motor Corporation joined forces with leading air taxi manufacturer Joby Aviation, announcing the creation of a joint venture named JTAMPC. This strategic partnership aims to enhance manufacturing cooperation and expedite the large-scale production of Joby's S4 series of electric Vertical Take-Off and Landing (eVTOL) aircraft. Under the terms of the agreement, Toyota will inject $1.02 million, securing a 51% controlling stake, while Joby will contribute $980,000, holding a 49% interest. The joint venture's board of directors will comprise three representatives from Toyota and two from Joby. Moving forward, both entities will negotiate and finalize additional agreements concerning exclusive manufacturing supply, intellectual property licensing, and other pertinent matters.
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