Latest news with #TetsuoOgawa
Yahoo
a day ago
- Business
- Yahoo
Why Joby Aviation, Inc. (JOBY) Soared On Wednesday
We recently published a list of . In this article, we are going to take a look at where Joby Aviation, Inc. (NYSE:JOBY) stands against other best-performing stocks. Joby Aviation soared by 28.78 percent to close at $8.86 apiece as investors gobbled up shares following news that it closed a $250-million investment from giant carmaker Toyota Motor Corporation. According to Joby Aviation, Inc. (NYSE:JOBY), the amount represents the first tranche of the $500-million investment, aimed at supporting certification and commercial production of Joby's electric air taxi. A futuristic electric vertical takeoff and landing aircraft soaring through the sky. 'With this capital and Toyota's legendary production expertise, we're enhancing our ability to scale cutting-edge design and manufacturing to meet the demands of our partners and customers,' said Joby Aviation, Inc. (NYSE:JOBY) founder and CEO JoeBen Bevirt. For his part, Toyota North America CEO Tetsuo Ogawa said that the investment reflects the two companies' dream 'of mobility for all and our commitment to achieving a future of air mobility.' Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi, which it intends to operate as part of a fast, quiet, and convenient service in cities around the world. Overall, JOBY ranks 1st on our list of best-performing stocks. While we acknowledge the potential of JOBY, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than JOBY and that has 10,000x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
a day ago
- Automotive
- Yahoo
Joby Aviation, Inc. (JOBY) Soars Almost 29% After Securing $250 Million Investment from Toyota
Joby Aviation, Inc. (NYSE:JOBY) stock surged significantly on Wednesday after the electric air taxi developer announced it had received a $250 million investment from Toyota. This funding is part of a previously disclosed $500 million commitment from the automaker, aimed at helping Joby Aviation, Inc. (NYSE:JOBY) move closer to certification and large-scale production of its electric air taxis. Toyota initially revealed the investment plan in October. Joby specializes in electric vertical takeoff and landing aircraft, or eVTOLs, which operate similarly to helicopters. The technology is designed to help ease urban traffic and lower emissions. The new funding adds to Toyota's earlier $394 million investment in Joby during a Series C funding round in 2020. Toyota North America CEO Tetsuo Ogawa joined Joby's board in July 2023, and the company has had a Toyota representative on its board since 2020. CEO and founder of Joby Aviation, Inc. (NYSE:JOBY), JoeBen Bevirt, made the following comment in the release: 'We're already seeing the benefit of working with Toyota in streamlining manufacturing processes and optimizing design. This is an important next step in our alliance with Toyota to scale the promise of electric flight.' Joby Aviation, Inc. (NYSE:JOBY) closed nearly 29% higher on May 28. While we acknowledge the potential of JOBY to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than JOBY and that has 100x upside potential, check out our report about this cheapest AI stock. READ MORE: and Disclosure. None. Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
Joby Aviation, Inc. (JOBY) Soars Almost 29% After Securing $250 Million Investment from Toyota
Joby Aviation, Inc. (NYSE:JOBY) stock surged significantly on Wednesday after the electric air taxi developer announced it had received a $250 million investment from Toyota. This funding is part of a previously disclosed $500 million commitment from the automaker, aimed at helping Joby Aviation, Inc. (NYSE:JOBY) move closer to certification and large-scale production of its electric air taxis. Toyota initially revealed the investment plan in October. Joby specializes in electric vertical takeoff and landing aircraft, or eVTOLs, which operate similarly to helicopters. The technology is designed to help ease urban traffic and lower emissions. The new funding adds to Toyota's earlier $394 million investment in Joby during a Series C funding round in 2020. Toyota North America CEO Tetsuo Ogawa joined Joby's board in July 2023, and the company has had a Toyota representative on its board since 2020. CEO and founder of Joby Aviation, Inc. (NYSE:JOBY), JoeBen Bevirt, made the following comment in the release: 'We're already seeing the benefit of working with Toyota in streamlining manufacturing processes and optimizing design. This is an important next step in our alliance with Toyota to scale the promise of electric flight.' Joby Aviation, Inc. (NYSE:JOBY) closed nearly 29% higher on May 28. While we acknowledge the potential of JOBY to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than JOBY and that has 100x upside potential, check out our report about this cheapest AI stock. READ MORE: and Disclosure. None.
