NYSE:SCHW.N 24 January 2026

July 2, 2026, 3:08 PM EDT. Joby Aviation (NYSE: JOBY) fell 4.5% to $8.445 after an SEC filing showed its new manufacturing JV with Toyota Motor Corp (NYSE: TM) will start with just $2 million in equity. Toyota owns 51% of the venture, Joby Toyota Aero Manufacturing Preparation Company, while Joby holds 49%. Future funding, including a possible $250 million tranche from Toyota, will depend on milestones and deals that haven't been detailed. Shares erased earlier gains on the JV news as the market reacted to details around the commitment. Joby ended Q1 with $2.47 billion in cash and equivalents and the JV is set to build Joby's S4 Series eVTOL aircraft.