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The new entity is part of the companies’ strategic alliance that has been in the works since 2024, which aims to support the certification and commercial production of Joby’s eVTOL aircraft.
Joby Aviation is teaming up with Toyota to create air taxis.
JOBY stock rallies as Toyota announces a new strategic partnership with the eVTOL firm. Wall Street continues to see significant further upside in JOBY shares from current levels.
Toyota will hold a 51% stake in the new entity, which will have exclusive rights to produce Joby's S4 series aircraft
Companies establish venture to produce electric aircraftJoby Aviation, Inc. (NYSE:JOBY) shares rose 7% on Tuesday after the company announced a manufacturing joint venture with Toyota Motor Corporation to build Joby’s S4 Series electric vertical take-off and landing (eVTOL) aircraft.
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