Toyota Ties Up with U.S. Startup Joby Aviation for Flying Car
New York, Jan. 15 (Jiji Press)--Toyota Motor Corp. <7203> said Wednesday that the leading Japanese automaker will collaborate with U.S. startup Joby Aviation to develop a mass-produced flying car promptly.
Toyota said it has invested 394 million dollars in the California-based firm, which is developing electric vertical takeoff and landing, or eVTOL, aircraft, expected as a solution to such traffic issues as congestion in urban areas.
Toyota will send Executive Vice President Shigeki Tomoyama to the U.S. firm's board.
The automaker said in a statement that it "will share its expertise in manufacturing, quality and cost controls."
"Air transportation has been a long-term goal for Toyota," Toyota President Akio Toyoda said in the statement.
[Copyright The Jiji Press, Ltd.]