Joby Aviation and Toyota expand partnership with long-term supply agreement

Joby Aviation (JOBY) announced it has signed a long-term agreement with Toyota Motor (TM) to supply key powertrain and actuation components for the production of the Company’s aircraft. Toyota is also Joby’s largest external shareholder, having invested around $400M in the Company. JoeBen Bevirt, founder and CEO of Joby, commenting on the agreement, said: "Our partnership with Toyota continues to be an integral part of Joby’s success, from assisting in the design of our pilot production line in Marina, California, to supplying key components for our aircraft." "I’m grateful for Toyota’s unwavering dedication to Joby as we work together to deliver a new form of fast, quiet and emissions-free mobility for cities and communities around the world. Their expertise and knowledge has helped put us on track to deliver, at scale, an aircraft that we believe is truly best-in-class." c. (NYSE:TM) to supply key powertrain and actuation components for the production of the Company’s aircraft.