Joby Aviation shares gain after forming manufacturing joint venture with Toyota

Joby Aviation, Inc. (NYSE:JOBY) shares rose 7% on Tuesday after the company announced a manufacturing joint venture with Toyota Motor Corporation to build Joby's S4 Series electric vertical take-off and landing (eVTOL) aircraft.

According to a regulatory filing dated June 29, 2026, the new entity, Joby Toyota Aero Manufacturing Preparation Company, will be owned 51% by Toyota and 49% by Joby.

Toyota will acquire 1,020,000 shares in the joint venture for $1,020,000, while Joby will purchase the remaining 980,000 shares for $980,000.

The joint venture will be overseen by a five-member board, with Toyota appointing three directors and Joby selecting two.

Under the shareholder agreement, Joby is expected to grant the venture exclusive manufacturing rights for its S4 Series aircraft and provide a royalty-free licence covering the relevant intellectual property.

Toyota will also contribute manufacturing expertise by granting a royalty-free licence for jointly developed manufacturing intellectual property, alongside a royalty-bearing licence covering certain pre-existing Toyota manufacturing technologies.

The companies have agreed to negotiate an exclusive manufacturing supply agree

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/joby-aviation-shares-gain-forming-125500057.html)