Toyota is investing another $500 million in Joby Aviation in a partnership aimed at launching the commercial business of the American air taxi company.
Toyota's investment will be used to support the certification and production of a helicopter-like aircraft for taxi services, both companies announced today, AP reported.
Toyota's total investment in it amounts to 894 million dollars, which means that Toyota will own 22 percent of the shares of the company in which it invests.
Today's investment is based on almost seven years of cooperation between the companies, said Joe Ben Bevirt, founder and executive director of the company "Joby Aviation".
"Toyota's knowledge and support has been critical to our success... as we realize our shared vision for the future of air travel," he added.
Joby Aviation says it has recently built its third aircraft and is in the process of issuing the fourth of five certificates.
Last year, the two companies signed a long-term contract under which Toyota will supply the engines and other components of the new air taxi.
It was announced on the Internet that the "Joby" commercial air taxi has room for four passengers and a pilot. It can travel up to 240 kilometers with a single battery charge at a maximum speed of 320 kilometers per hour, and the maximum payload is 453 kilograms.
It is designed to take off and land vertically like a helicopter and transition to horizontal flight like an airplane.
Almost completely silent in flight, during take-off and landing it is 100 times quieter than a helicopter.
"Joby" plans mass production and to provide transport services at the request of clients.
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