:Toyota Motor said Wednesday it will invest another $500 million in Joby Aviation to support certification and commercial production of Joby’s electric air taxi.The Japanese automaker's new funding is on top of $394 million in prior investments it made in Joby and is part of a strategic alliance on commerc

Toyota is investing another $500 million in Joby Aviation as part of a partnership aimed at helping get the American air taxi company's commercial business off the ground.

Toyota is investing another $500 million in Joby Aviation as part of a partnership aimed at helping get the American air taxi company’s commercial business off the ground.

Toyota is investing another $500 million in Joby Aviation as part of a partnership aimed at helping get the American air taxi company's commercial business off the ground. Toyota's investment will be used to support certification and production of Joby's electric air taxi, the companies said Wednesday, and brings Toyota…

Toyota Motor said on Wednesday it will invest another $500m (R8.7bn) in Joby Aviation to support certification and commercial production of Joby’s electric air taxi.

The investment will be used to support certification and production of Joby's electric air taxi. After the investment, Toyota will own about 22% of Joby's outstanding shares

Joby Aviation is also backed by Uber, SK Telecom, Intel Capital and Baillie Gifford.

Toyota is reportedly doubling down on its investment in electric air taxi developer Joby Aviation with a new $500 million funding round. The automobile giant apparently believes the future of travel in cities is via small aircraft zipping between skyscrapers.