Toyota Motor is investing $394 million into the U.S. "flying taxi" startup Joby Aviation, the Japanese company announced on Thursday.
Founded in 2009, Joby is developing an electric vertical takeoff and landing aircraft, or eVTOL, for urban transportation services.
The fresh funding follows Toyota's investment in February 2018 through its affiliated venture capital subsidiary, Toyota AI Ventures. The carmaker plans to provide Joby with manufacturing and electrification technologies to achieve mass production.
Some people will shudder at Hiroki Enno’s idea of a “social experiment,” yet he believes the project could someday benefit society as a whole.
The 28-year-old CEO of Plasma Inc., a Tokyo-based IT company, is paying participants in exchange for allowing him to film their activities at home — 24 hours a day.