This builds upon a deep, multi-year collaboration and follows Toyota’s massive $500 million investment in Joby in late 2024 to fund aircraft certification and early-stage productionToyota Takes Majority Stake In Manufacturing JVThe joint venture, Joby Toyota Aero Manufacturing Preparation Company, will manufacture Joby’s S4 Series eVTOL aircraft. Toyota will hold a 51% stake after buying 1.02 million shares for $1.02 million, while Joby will hold 49% after buying 980,000 shares for $980,000.The venture will combine Joby’s electric aviation work with Toyota’s production systems and operational expertise. The companies said the alliance will focus on building commercial production capability, improving manufacturing productivity, quality, and cost efficiency, and supporting Joby’s production expansion as it works toward aircraft certification.Governance And Future AgreementsThe joint venture will have a five-member board, with Toyota designating three directors and Joby designating two, subject to ownership thresholds.Certain major actions will require approval from both companies, while debt and dividends will require Toyota’s approval.Joby and Toyota also plan to negotiate agreements covering exclusive manufacturing supply, commercial terms and intellectual property rights.Under the expected structure, Joby would grant the venture exclusive rights to manufacture the S4 Series, subject to certain exceptions.Joby would license certain aircraft-related intellectual property to the venture royalty-free, while Toyota would license manufacturing-related intellectual property, including some royalty-bearing rights.The agreement includes mandatory capital contributions tied to future milestones, with specific amounts to be set later. The deal may also require Hart-Scott-Rodino and CFIUS filings.Electric Air Taxi PlansJoby is developing an all-electric vertical take-off and landing air taxi. The company plans to operate air taxi services in cities worldwide and sell aircraft to other operators and partners."Toyota has been by Joby’s side for nearly a decade, providing invaluable guidance and support as we built the foundation for manufacturing our aircraft," said JoeBen Bevirt, founder and CEO of Joby Aviation. JOBY Technical Analysis: Key Support, Resistance And MomentumJoby Aviation’s current price of $8.80 is significantly below its key moving averages, with the stock trading about 9% below its 20-day simple moving average (SMA) of $9.63 and 11.5% below its 50-day SMA of $9.90. The moving average convergence divergence (MACD) is currently below its signal line, indicating that upward momentum is fading unless it can reclaim that baseline.