Joint VentureJun 30, 2026, 08:01 AM
Joby Aviation & Toyota Form JV for eVTOL Manufacturing
AI Summary
Joby Aviation, Inc., through its subsidiary Joby Aero, Inc., has entered into a stockholders agreement with Toyota Motor Corporation to form a joint venture named Joby Toyota Aero Manufacturing Preparation Company (JTAMPC). This new entity is established to manufacture Joby's S4 Series eVTOL aircraft. Joby Aero, Inc. holds a 49% ownership stake with an initial investment of $980,000, while Toyota holds 51% with an initial investment of $1,020,000. The joint venture will be governed by a five-member board, with two directors from Joby and three from Toyota, and will involve future exclusive manufacturing and intellectual property licensing agreements.
Key Highlights
- Joby Aviation and Toyota formed Joby Toyota Aero Manufacturing Preparation Company (JTAMPC).
- JTAMPC will establish an entity to manufacture Joby's S4 Series eVTOL aircraft.
- Joby Aero, Inc. acquired a 49% ownership interest in JTAMPC for $980,000.
- Toyota Motor Corporation acquired a 51% ownership interest in JTAMPC for $1,020,000.
- JTAMPC's board will consist of five directors: two designated by Joby and three by Toyota.
- Joby will grant JTAMPC exclusive rights to manufacture the S4 Series.
- Joby will license certain S4 Series intellectual property to JTAMPC on a royalty-free basis.
- Mandatory capital contributions are required upon achievement of specified funding milestones.
Price Impact
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