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Toyota invests in flying car company

Date: 17 January 2020 Tags: Miscellaneous
  • Japanese car giant Toyota is investing nearly $400 million in a company working on commercialising electric flying cars.
  • The investment in JobyAviation comes as the automaker looks to expand into new sectors as the industry rapidly transforms.
  • Founded in 2009, Joby Aviation is developing a four-passenger electric aircraft that takes off and lands vertically, like a helicopter, though it has multiple rotors.
  • The firm envisions the aircraft as a mode of commercial transport, rather than for sale to individuals, with its pilots ferrying commuters around