Joby Aviation (JOBY) Surges Over 24% After Toyota Investment

Oct 02, 2024

Joby Aviation (JOBY, Financial) saw a significant rise, with shares increasing over 24% to $5.99. Toyota (TM) announced an additional investment of $500 million into Joby Aviation, aimed at supporting the certification and commercial production of its electric air taxis. This new investment brings Toyota's total investment in Joby Aviation to $894 million.

Joby Aviation, headquartered in California, focuses on developing and manufacturing electric vertical takeoff and landing (eVTOL) aircraft. The company aims to revolutionize urban air transportation with its electric aviation technology, offering fast, quiet, and environmentally friendly air taxi services. Their goal is to reduce traffic congestion and carbon emissions, ultimately enabling rapid transportation over cities.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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