Joby Aviation trades ahead of eVTOL sector after Toyota JV filing details $2 million seed
Joby Aviation Inc climbed Tuesday after Toyota Motor Corp grabbed majority control of their new manufacturing joint venture. Shares moved much more than the actual cash Toyota put into the business. Shares of the Santa Cruz, California-based air-taxi developer rose 3.8% to $8.96. More than 33.9 million shares changed hands. Toyota’s U.S.-listed stock slipped 1.8%. Reuters had reported Joby gained 7% in premarket trading after the companies said they would form a joint venture to build Joby’s S4 electric vertical takeoff and landing craft.