Toyota Deploys 200 Staff to Support Joby as Shares Fall 23%
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Toyota Motor Corp. is increasing its involvement with Joby Aviation, deploying nearly 200 staff to support the air taxi developer amid a 23% drop in shares. This shift from capital provider to manufacturing partner aims to enhance production efficiency using Toyota's Production System. Joby, currently producing one aircraft monthly, targets four by 2027 and aims for 500 annually post-facility expansion. Certification from the FAA is pending, with passenger flights expected to start this year. Joby's shares fell due to a $1 billion equity offering, despite a recent 2.9% rise in stock price.
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