Toyota Motor Corp. is making a $394 million investment in Joby Aviation, one of the handful of companies with the seemingly implausible goal of making electric air taxis that shuttle people over gridlocked highways and city streets.

Toyota is the lead investor in Joby’s $590 million Series C funding, alongside Baillie Gifford and Global Oryx and prior backers Intel Capital, Capricorn Investment Group, JetBlue Technology Ventures, Sparx Group and its own investment arm, Toyota AI Ventures.

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Unlocking The Gridlock: Toyota Makes $394 Million Investment In Air Taxi Venture

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