Joby Aviation is an aerospace company that aims to develop and commercialize an electric vertical take-off and landing (eVTOL) aircraft to create fast, quiet and affordable air transportation services. While the idea of cheap, reliable urban air transportation has been promised to us at the start of every decade since 1950, Joby appears to be able to deliver on that promise – especially with a major cash infusion from Toyota.
The automaker just invested $394 million in Series C funding for Joby.
“Air transportation is a long-term goal for Toyota, and as we continue our work in the automotive sector, this agreement allows us to aim for the skies,” said Akio Toyoda, president and CEO of Toyota Motor Corporation.
“As we tackle the air travel challenge with Joby, an innovator in the emerging field of eVTOL, we are harnessing the potential to revolutionize transportation and life in the future.”
Toyota predicts that eVTOLs will “revolutionize mobility” in urban areas by helping to reduce traffic congestion while alleviating some of the environmental burdens created by other vehicles. eVTOLs are also being touted as a solution to the lack of transportation in underpopulated areas, although it’s unclear who will fund them.
Uber already has a helicopter taxi service that operates at airports (in fact, they’re now planning to use some of Joby’s planes), but there’s a reason there aren’t many services identical in the cities.
It’s difficult to get regulatory approval to take customers zipping between skyscrapers and office buildings by helicopter. Nor will creating another small private transportation system solve the problem posed by growing urban populations, which require large-scale public transportation rather than helicopter taxis. The infrastructure needed to make cities fit for purpose is also prohibitively expensive, and when faced with the option of subsidizing a heliport that serves a handful of wealthy customers or a train station, most planners – and politicians – will choose the latter.
Riding Joby’s eVTOLs will undoubtedly be extremely enjoyable, but it won’t be accessible. So while the vehicle looks sleek – and Toyota’s money will likely be well spent – Joby should probably call it what it is: an electric helicopter.
