Joby Aviation, Inc. announced a joint venture with Toyota Motor Corporation to establish Joby Toyota Aero Manufacturing Preparation Company (JTAMPC) for manufacturing S4 Series eVTOL aircraft. Joby will acquire a 49% ownership interest in the new entity for $980,000, while Toyota will hold a 51% ownership interest for $1,020,000. The agreement includes provisions for mandatory capital contributions upon reaching funding milestones and exclusive manufacturing supply agreements. Joby Aviation, Inc. operates in the electric vertical takeoff and landing (eVTOL) aircraft industry and develops electric aircraft technology.