Joby Aviation closes $250M first tranche of Toyota investment; expands manufacturing pact

Joby Aviation, Inc.

Issued 49.7M shares at $5.03 to Toyota for $250M upon removing a services-agreement closing condition.
Second Amended Collaboration Agreement deepens Toyota's role as preferred manufacturing partner for eVTOL.
Parties will explore low-volume commercial manufacturing and collaborate on design, supply, and MRO services.
Funds to support certification and commercial production of electric air taxi.

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