eVTOL air taxi developer Joby Aviation has secured a fresh round of funding from previous investor Toyota Motor Corporation, totaling $500 million. With its investment, Toyota’s total funding committed to the eVTOL specialist inches closer to $1 billion. The money will help Joby secure flight certification and begin commercial production of its sustainable aerial technology.

In terms of our coverage of electric vertical takeoff and landing (eVTOL) aircraft, Joby Aviation ($JOBY) has held a mainstay in the beat as it remains one of the more promising startups in a growing segment that is quickly becoming crowded.

Part of that previous coverage included Joby’s first flight with a pilot onboard in October 2023, which quickly led to a demonstration in New York City ahead of full-fledged eVTOL air taxi operations planned for sometime in 2025.

Since beginning as a small team of seven engineers back in 2009, Joby has grown to a staff of over 1,500 people who operate out of its headquarters in Marina, California, as well as additional offices in Santa Cruz, San Carlos, Washington, DC, and Munich, Germany.

Part of its success is early believers in its eVTOL technology, which has invested hundreds of millions in funding, including Toyota Motor Corporation. Since 2019, Toyota has been a strategic investor in Joby and its eVTOL technology. The Japanese OEM has even deployed dozens of its own engineers to work alongside Joby’s engineers to help the aviation company determine its eVTOL factory layout and manufacturing processes and prepare for high-volume production in the US.

Recently, Toyota nearly doubled its previous investments in Joby Aviation to help the company reach certification and scaled production of its eVTOL air taxis.

Toyota’s investment in Joby eVTOLs reaches $894 million

Per a recent release from Joby Aviation, Toyota Motor has committed to a new investment of $500 million which will be divided into two equal portions. The first half of the payment is targeted to close before the end of 2024, with the second to follow sometime in 2025.

When completed, the $500 million financial commitment will bring Toyota Motor’s total investment in Joby up to $894 million and will consist of cash in exchange for common stock. Tetsuo “Ted” Ogawa (seen above), the operating officer who inked the agreement on behalf of Toyota Motor Corporation, spoke about the automaker’s faith in Joby’s eVTOL technology and its desire to help contribute to “a shared vision of air mobility.”

With this additional investment, we are excited to see Joby certify their aircraft and shift to commercial production. We share Joby’s view that sustainable flight will be central to alleviating today’s persistent mobility challenges.

Toyota’s funding will help Joby in its ongoing quest to achieve flight certification and commercial production of its proprietary electric air taxis. The second payment, in particular, will rely on the finalization of terms related to a strategic alliance between both companies focused on commercial eVTOL manufacturing and other conditions.

In terms of eVTOL commercialization, Joby headway and recently rolled its third aircraft off its pilot production line in Marina, California, before breaking ground on a new expanded facility in The Golden State that will more than double its current production footprint. As of August 2024, Joby had completed 1/3 of the fourth and fifth stages of the type certification process before full-scaled eVTOL production and commercial air taxi operations with Toyota could begin.

You can learn more about Toyota’s investment and Joby’s eVTOL technology in the video below:

One of the most anticipated new EVs made its debut on the streets of Chicago this morning as Dodge brand CEO Matt McAlear rev’ed onto the stage in a pre-production example of the 2025 Dodge Charger Daytona EV Scat Pack Stage 2.

Before we get too far, I want to set your expectations low — I didn’t get to drive the Charger Daytona EV. None of the press in attendance for Chicago’s addition to national Drive Electric Week did, in fact, because the low-slung silver stunner was Dodge CEO Matt McAlear’s personal DD, we were told, and he had to, “get it back to Detroit in one piece.”

Despite that, we were able to crawl all over the new-age electric Daytona while McAlear gave us a presentation and some Q&A time, and I have to say that the fit and finish of the car — even in pre-production spec — seemed a step or two above that of the last Mopar coupe (a 2011 Challenger in “Kowalski” white) that I spent any real time in.

I also have to say, with complete objectivity, that the Dodge Charger Daytona EV’s Fratzonic ‘Exhaust’ did not elicit the reactions I expected.

“That’s stupid,” said the man to my right, a former Ford electrical engineer who worked on the Maverick and Mach-E teams. “But it brings a smile to my face.” McAlear put the Fratzonic into “drag mode,” and rev’ed it again. “That’s — I don’t want to like it. But I love it.”

On my left, a smart, successful, attractive woman couldn’t hold back her laughter. “It’s a guy thing, for sure.”

My own notes (hilariously) read, “You can set the exhaust volume to 11 so everyone on your block will know the special boy has a new car.”

Even so, I did catch myself smiling at the vaguely PS2-ish sound quality. I have fond memories of playing GranTurismo in the USAF Tech School dorms, and the Dodge sounded every bit like that game’s digitally recreated big block V8s. I won’t even post my video of the car (shot on an iPhone 15), because the online videos simply just don’t do it justice.

Fake exhaust, real car

As Matt McAlear spoke disparagingly about the “value-driven” Dodge brand of years past that sold Neons and Caravans and Journeys for $19,995, he waxed poetic about Dodge and the brotherhood of muscle, invoking scat packs, Hellcats, and Demons, he said that Dodge was OK with being “that crazy cousin that you’re not sure you want to invite over for Thanksgiving.” The Dodge CEO insists that they’re good with that vibe. They’re comfortable there, with the people “who don’t care what others think about them.”

Ignoring both the fact that your racist uncle is probably also good with that vibe, and the fact that today’s Dodge dealers would probably love a seven-passenger crossover they could sell for under $25,000 out the door, the Charger Daytona EV Scat Pack 2 delivers a surprising amount of value for its asking price.

For starters, there’s a ton of room in the thing. The proportions scream “muscle car” but once you understand how big those tires and wheels really are, you’ll believe me when I tell you there’s room for five actual humans in this thing.

There’s also all-wheel drive. Often seen as a must-have feature here in Chicago, it turns the Charger Daytona EV Scat Pack Stage 2 into a car that will be seen as a potential DD, and not “just” a fair weather friend. With 670 hp and 627 lb-ft of torque available at 0 rpm, that AWD helps deliver straight line performance as well as all-weather safety, too.

Add in the fact that the car is eligible for up to $7500 in lease assistance from Stellantis (and up to 7500 additional dollars from ComEd, if any municipal or state police fleet managers are reading this) make it both faster, cleaner, and more affordable than the current closest V8 Charger … and that, as they say, is progress!

Electrek’s Take

The new Charger Daytona certainly looks the part of a modern muscle car, and there’s no question that it’s faster and more capable than any of the classic Mopars from the 60s and 70s. That said, Dodge seems to be a brand that’s more interested in appealing to the type of car enthusiast that looks back on some imagined “golden age” of chest-pounding automotive performance from days gone by, and not a brand that’s looking to to the future.

The golden age of performance is now. And it’s very, very quiet.

ORIGINAL CONTENT FROM ELECTREK.

Nissan’s LEAF was once the world’s best-selling EV, but it’s lost some ground over the years as new, more advanced models hit the market. Although Nissan plans to launch an upgraded LEAF next year, America’s cheapest EV saw sales surge 187% in the third quarter.

“When we launched LEAF in 2010, it instantly became the most affordable, mass-market EV in the world,” Nissan Motor North America CEO Jose Munoz previously claimed.

Although automakers are launching extremely low-priced EVs in some markets, like China (see BYD’s Seagull, starting under $10,000), the LEAF is still the most affordable all-electric option in the US.

Starting at $28,140, the Nissan LEAF is, in fact, America’s cheapest EV right now. This is especially true now that the Chevy Bolt (2023MY started at $26,500) is off the market.

As such, Nissan is still seeing demand for the legacy electric hatchback. In the third quarter, Nissan sold 4,514 LEAF models in the US, up 187% from the 1,570 sold in Q3 2023.

Although not a monumental number, LEAF sales are up significantly from the 1,925 sold in Q2 and 1,142 models sold in the first three months of 2024. Nissan has now sold 7,581 LEAFs in the US through September.

Nissan LEAF sales surge in the US ahead of new model

Nissan sold another 5,552 Ariya electric SUVs in the US in the third quarter for a total of 14,897 through the first nine months of 2024.

The Ariya is viewed as a major upgrade over the LEAF, with up to 304 miles range (compared to the LEAF’s 212-mile range), a more powerful drive system, and a CCS1 port.

However, it costs over $10,000 more than the LEAF, with 2024 Ariya SUV prices starting at $39,590.

Although the LEAF currently has the lowest starting price for an EV in the US, it’s only eligible for a partial $3,750 federal tax credit. With only a partial credit, incoming rivals like the Chevy Equinox EV and Volvo EX30, starting around $35,000, will likely take market share.

Luckily, Nissan plans to launch the next-gen LEAF next year. According to the company, it was already previewed with the Chill Out concept, unveiled in 2021.

According to sources, the new LEAF will be more of a crossover coupe SUV, closer in style to the Ariya. One source even called it a “mini Ariya” as Nissan aims to regain its share of the EV market.

The Nissan LEAF is still one of the most affordable EVs in the US, starting at $28,140. If you want to scoop one up while it’s still available, use our link to view offers at a dealer near you. You can also see deals on the Nissan Ariya here.