Toyota bets big on a new mode of local transportation: flying taxis
By Akshay Kedari  Date: 2020-01-17

Toyota bets big on a new mode of local transportation: flying taxis

A California-based aerospace company, Joby Aviation recently announced that it raised USD 590 million as venture capital in a series C round of funding led by Toyota motor company. A sizeable investment made by the automaker in the round is a significant bet on the future of air transportation. 

Joby Aviation has been working on electric aircraft for over a decade and now Toyota will work with the company to design and build a fleet of VTOL (vertical takeoff and landing) aircraft for use in a ride-hailing service.  In a previous funding round closed by Joby Aviation in 2018, the Japanese auto giant aided the secretive startup to raise USD 100 million.

Alongside this new round of funding, Joby has also hinted at an agreement it made with Uber to deploy its air taxis on a ride-sharing-network. However, it is unclear whether the Toyota’s air taxis will become the chosen ones.

Unlike all other companies that are currently building electric vertical takeoff and landing aircraft, Joby aviation has kept much of its project under wraps. Apparently, the company has decided to share some more details about its aircraft, as part of the Toyota announcement.

The all-electric aircraft has 6 rotors and offers a seating capacity of 5, including the pilot. Just like a helicopter, the aircraft can take off vertically and then shift to a forward flight utilizing its tilt rotors. The company claims that it can travel 150 miles on a single charge, can reach a top speed of 200 mph and is 100 times quieter than a traditional aircraft.

JoeBen Bevirt, founder of Joby Aviation was quoted saying that the company is building a new system for transportation, which is likely to transform daily life, offering quick services and greater safety.

In collaboration with a partner like Toyota, Joby aviation believes that it can bring its aircraft to market faster than the rest. The company shares that Toyota will aid them with its expertise in quality, cost controls, manufacturing and to support the development & production of the potential aircraft.
 

Source Credit: https://www.theverge.com/2020/1/15/21068135/joby-aviation-toyota-flying-air-taxi-investment-amount

About Author

Akshay Kedari    

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

Fibonacci Brands acquires Darwin from Harvest Health & Recreation
Fibonacci Brands acquires Darwin from Harvest Health & Recreation
By Akshay Kedari

Fibonacci Brands has recently announced the acquisition of Darwin from Harvest Health & Recreation (HARV.CN) as its foundation brand. Fibonacci is a leading player in the international cannabis industry. According to James George, founder of Fib...

GVN adds EVIT Center and Chumakov as its new Centers of Excellence
GVN adds EVIT Center and Chumakov as its new Centers of Excellence
By Akshay Kedari

The Global Virus Network (GVN), an international coalition of medical virologists, has recently announced the addition of Australian and Russian researchers. GVN is adding the Center for EVIT (Emerging Viruses, Inflammation & Therapeutics) of th...

Wind Point Partners takes over RTIC to expand business portfolio
Wind Point Partners takes over RTIC to expand business portfolio
By Akshay Kedari

American private equity firm, Wind Point Partners has recently signed an acquisition deal with the one of the biggest direct-to-consumer (D2C) eCommerce providers of drinkware, RTIC. Reportedly, RTIC is Wind Point’s third acquisition of a famil...

Novartis reveals positive data from Phase III ORION trials of inclisiran
Novartis reveals positive data from Phase III ORION trials of inclisiran
By Akshay Kedari

Swiss multinational pharmaceutical firm, Novartis has recently announced results from its Phase III ORION-10 and -11 studies that focus on assessing the individual responses of patients on lowering low-density lipoprotein cholesterol (LDL-C) with inc...

Medtronic to acquire Companion Medical to expand diabetes business
Medtronic to acquire Companion Medical to expand diabetes business
By Akshay Kedari

Medtronic plc, the global leader in medical technologies, has reportedly announced that it is planning to acquire insulin pen manufacturer Companion Medical. The acquisition gives Medtronic access to Companion Medical’s ‘InPen’, wh...