Toyota (TM) has decided to push back the production of electric vehicles (EVs) in North America, delaying its plans by several months to the first half of 2026. Originally, the company intended to start assembling a three-row electric sport utility vehicle (SUV) at its Kentucky plant in 2025, with an investment of $1.3 billion in the facility. However, recent reports indicate that Toyota has informed its suppliers of the revised schedule, marking the first known delay by a Japanese automaker in the region.T ...

Group 1 - Toyota Motor's stock fell nearly 3% following news of a production delay and a significant investment in an air taxi company [1] - The delay in electric vehicle (EV) production in North America has been pushed to the first half of 2026, which is longer than previously anticipated [2] - The postponement is attributed to design adjustments and concerns over declining growth rates in EV sales, reflecting Toyota's cautious approach to the EV market [2] Group 2 - Toyota announced a $500 million investment in Joby Aviation, to be distributed in two equal tranches, aimed at supporting the certification and commercial production of electric air taxis [3] - There are concerns that Toyota's capital might be better allocated to current road vehicle initiatives rather than investing in air mobility projects [3]

Group 1: Investment and Partnership - Toyota is investing an additional $500 million in Joby Aviation, bringing its total investment to $894 million, aimed at accelerating Joby's certification and commercial production [1][2] - The investment will be delivered in two tranches, with the first expected by the end of this year and the second by 2025 [1] - Following the announcement, Joby's shares surged by 27%, reflecting investor confidence in the company's future prospects [1] Group 2: Industry Position and Strategy - Toyota's investment in Joby is part of a broader strategy to diversify its portfolio across various transportation technologies, including electric vehicles, hydrogen-powered cars, and next-generation internal combustion engines [2] - Joby is a leading player in the eVTOL space, which is expected to revolutionize transportation with small electric aircraft capable of vertical takeoffs and landings [3] - Joby has made significant progress by becoming the first eVTOL manufacturer to have its certification plans accepted by the U.S. FAA, marking a crucial step toward full-scale production [3] Group 3: Challenges and Financial Position - The eVTOL industry faces challenges such as developing necessary infrastructure, overcoming regulatory hurdles, and gaining public acceptance [4] - Joby has raised over $2 billion prior to Toyota's investment, positioning it as one of the better-capitalized players in the eVTOL sector [4] - Joby's vertically integrated business model, which includes both manufacturing and service operations, presents significant opportunities for long-term value creation [5] Group 4: Market Performance and Future Outlook - Joby is currently valued at nearly three times that of its closest competitor, Archer Aviation, highlighting its leadership in the eVTOL space [5] - The Zacks Consensus Estimate for Joby's 2024 loss per share has widened by a penny to 69 cents, indicating a 12.6% improvement year over year [6] - Joby surpassed estimates in three out of the last four quarters, with an average earnings surprise of 9.1% [6]

Joby Aviation’s NYSE: JOBY technology has been again validated. The latest news is a follow-on investment from Toyota Motor NYSE: TM, one of the company's earliest investors and a long-time proponent of personal air capability. The new deal will more than double Toyota’s investment in Joby, bringing the total to nearly $900 million, with funds distributed over the next two years. Toyota is a critical partner for Joby. Not only does it provide funding, but also powertrain and actuation components. Its engine ...

Toyota (TM, Financial) has announced a delay in its North American electric vehicle production until the first half of 2026, attributed to design adjustments and slowing EV sales. The Japanese automaker informed suppliers that the launch of its first all-electric model in the Kentucky plant, a three-row SUV, will be postponed by a few months.Toyota spokesperson Scott Vazin indicated that production might commence in early 2026 rather than at the end of next year. Initially, Toyota anticipated starting produ ...

A pre-production prototype of the Joby Aviation S4 aircraft is displayed during the World Governments Summit in Dubai on February 12, 2024.RYAN LIM/AFP via Getty ImagesJapanese auto giant Toyota Motor is investing $500 million in Joby Aviation to support the U.S. electric air taxi company’s launch of commercial passenger services, which are slated to begin as soon as next year.Already Joby’s largest external shareholder, Toyota’s investment is on top of its $394 million capital injection in the company in 2 ...

Toyota Motor Corporation announced an additional investment of $500 million in Joby Aviation, an electric flying car startup. This funding aims to support Joby's efforts to certify its electric vertical takeoff and landing (eVTOL) aircraft and expedite the commercialization process. Tetsuo “Ted” Ogawa, President and CEO of Toyota Motor North America, expressed optimism about the certification and commercial production of Joby's aircraft with the new investment.The investment will be disbursed in two parts, ...

Toyota Motor Corporation (TM) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock. Over the past month, shares of this company have returned -4.4%, compared to the Zacks S&P 500 composite's +1.2% change. During this period, the Zacks Automotive - Foreign industry, which Toyota Motor falls in, has lost 1.7%. The key question now is: What could be the stock's future direction? Althoug ...

Toyota is doubling down on Joby Aviation with a $500 million investment into the California-based company that's developing electric air taxis. Toyota's total investment in Joby, which includes a $394 million capital injection back in 2020, is now $894 million. The funds will be used to help Joby complete the lengthy Type 2 certification process with the Federal Aviation Administration and support commercial production of its electric vertical takeoff and landing aircraft. Joby is in the fourth of five stag ...

Investment to be made in two equal tranches, with the first targeted to close later this year and the second in 2025 Funds will support certification and commercial production of Joby's electric air taxi Investment terms to include plans to establish a manufacturing alliance for the first phase of commercialization Will bring total investment from Toyota Motor Corporation in Joby to $894 million TOYOTA CITY, Japan, and SANTA CRUZ, Calif., Oct. 2, 2024 /PRNewswire/ -- Toyota Motor Corporation (Toyota; NYSE: ...