Joby Aviation, Inc. (JOBY) and Toyota Motor Corporation (TM) have formalized their nearly decade-long partnership by establishing a joint venture to manufacture electric vertical take-off and landing (eVTOL) aircraft. The new entity, named the Joby Toyota Aero Manufacturing Preparation Company, will focus on scaling commercial production of the Joby S4 Series eVTOL aircraft.

Announced in a press release on June 30, 2026, following a U.S. Securities and Exchange Commission (SEC) 8-K filing on June 29, 2026, the alliance combines Joby’s electric aviation technology with Toyota’s established production systems expertise. The joint venture will operate across locations in Santa Cruz, California, and Toyota City, Japan.

Joint venture structure and financial stakes

Toyota holds a 51 percent majority stake in the new manufacturing company, acquired through the purchase of 1.02 million shares for $1.02 million. Joby retains the remaining 49 percent stake, having purchased 980,000 shares for $980,000. The joint venture will be governed by a five-member board of directors, with three members designated by Toyota and two designated by Joby.

The agreement includes specific intellectual property licensing arrangements between the two parent companies. Joby will license certain aircraft-related intellectual property to the joint venture on a royalty-free basis. In return, Toyota will license manufacturing-related intellectual property to the venture, which includes certain royalty-bearing rights.

Scaling eVTOL production

The formal joint venture builds upon a foundation of significant financial and technical support from the Japanese automaker. Toyota has provided approximately $900 million in total capital to Joby to date. The automaker is already providing technical assistance as Joby establishes a series production line for the S4 eVTOL aircraft at a facility in Ohio.

In the June 30 press release, Joby Aviation founder and CEO JoeBen Bevirt highlighted the depth of the corporate relationship.

“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. Today’s announcement reflects the strength of our relationship and our shared confidence in the opportunity ahead.”

Toyota Motor Corporation Chairman Akio Toyoda stated that the company views air mobility as a natural extension of its philosophy of providing mobility for all, expanding its focus from the ground into the sky to bring new value to society.

Certification progress and next steps

The manufacturing alliance aligns with Joby’s ongoing Certification efforts with the U.S. Federal Aviation Administration (FAA). During the first quarter of 2026, Joby began flying its first FAA-conforming aircraft for type inspection authorization. This testing phase is a required step as the company works toward achieving full FAA type certification for the S4 Series.

With the joint venture now legally established, the two companies will begin integrating their engineering and manufacturing teams across the California and Japan facilities to prepare for high-volume aircraft production.

AirPro News analysis

We view the formalization of the Joby Toyota Aero Manufacturing Preparation Company as a critical de-risking event for Joby’s production ambitions. While designing and certifying an eVTOL aircraft presents significant regulatory hurdles, manufacturing these vehicles at scale with automotive-style efficiency is an entirely different challenge that has historically troubled aerospace Startups. By securing a majority-stake commitment from Toyota, Joby gains direct access to one of the world’s most proven manufacturing systems. Furthermore, the intellectual property arrangement, where Toyota retains royalty-bearing rights on its manufacturing processes, suggests the automaker sees long-term revenue potential in aerospace production beyond its initial capital Investments.

Sources: Joby Aviation, Inc. and Toyota Motor Corporation

On June 29, 2026, KBR announced its selection by Keppel Ltd. and Aster Chemicals and Energy to provide technology licensing and Front-End Engineering Design (FEED) services for a proposed 100,000-ton-per-year SAF (SAF) facility on Jurong Island, Singapore.

The planned facility is envisioned as Asia’s first commercial-scale ethanol-to-jet (EtJ) SAF plant. According to the KBR press release, the project will utilize the company’s PureSAF technology to produce a 100% drop-in jet fuel, supporting Singapore’s national mandate to increase sustainability usage across the aviation sector.

PureSAF technology and project scope

The Jurong Island facility will leverage PureSAF, a technology originally developed by Swedish Biofuels AB and engineered for commercial-scale production by KBR, which holds the exclusive global license. The process is designed to convert ethanol into aviation fuel that requires no blending with conventional Jet A or Jet A-1 before use.

In a statement accompanying the announcement, KBR President and CEO Stuart Bradie highlighted the system’s flexibility.

“KBR’s PureSAF is a feedstock-flexible, bankable technology that is designed to deliver a 100% drop in jet fuel, ready to power aircraft without blending. We are constantly innovating our SAF solution to make it compatible with feedstock availability in different regions and to enable the aviation industry to transition to low-carbon jet fuel with a cost-optimized approach.”

The FEED study will determine the technical configuration and project capital expenditure required for the facility. The development remains subject to regulatory approvals and a final investment decision (FID) by the project partners.

Aligning with Singapore’s aviation mandates

The selection of KBR follows a January 28, 2026, agreement between Keppel’s Infrastructure Division and Aster to jointly assess the development of the Jurong Island site. Aster operates as a joint venture between Indonesian petrochemical company Chandra Asri and Swiss commodities trader Glencore.

The proposed 100,000-ton annual production capacity aligns directly with targets set by the Civil Aviation Authority of Singapore (CAAS). Starting in 2026, the CAAS mandates a 1% SAF uplift for all departing flights from the country, with a stated goal of increasing that requirement to between 3% and 5% by 2030.

Alongside the SAF plant contract, KBR and Keppel signed a Memorandum of Intent to collaborate on broader energy transition initiatives. The companies plan to explore technologies related to waste-to-energy, plastic recycling, biofuels, and artificial intelligence-driven digitalization.

AirPro News analysis

We view the progression of the Jurong Island project to the FEED stage as a critical indicator of the Asia-Pacific region’s readiness to scale SAF production. While North America and Europe have led early SAF capacity investments, Singapore’s firm regulatory mandate provides the demand certainty required to underwrite commercial-scale facilities in Southeast Asia. The choice of an ethanol-to-jet pathway is particularly notable, as it allows operators to bypass the constrained supply of fats, oils, and greases that limit hydroprocessed esters and fatty acids (HEFA) production volumes. The project’s ultimate realization hinges on the upcoming final investment decision, which will test the commercial viability of the EtJ process in the current economic environment.

Sources: KBR

Mako Aerospace, a Scottish aerospace startups developing all-electric jet engine technology, has indicated the closure of a $28 million Series A funding round to advance its propulsion systems.

A URL published on the company’s domain outlines the capital injection for the Dunfermline-based manufacturers. Mako Aerospace is currently developing “The Forerunner,” an all-electric jet engine prototype utilizing superconductor technology designed to extend the range of electric aircraft.

Advancing all-electric propulsion

Led by Chief Executive Officer Kieran Duncan and Chief Operations Officer Pia Saelen, Mako Aerospace is focused on reducing operating expenses for aircraft operators. The company targets a 70% reduction in fuel costs compared to traditional turboprop engines using its proprietary technology.

In September 2022, Mako Aerospace announced a partnerships with the National Manufacturing Institute Scotland (NMIS) to manufacture the prototype of its electric jet engine. The reported $28 million Series A would provide the capital required to scale this development and pursue experimental certification for the propulsion system.

Funding verification and industry context

The $28 million funding figure originates from a dedicated URL on the Mako Aerospace website. The primary press release is not currently accessible through public web searches, and the funding round has not yet been confirmed by regulatory filings or secondary financial press.

If completed, a $28 million Series A represents a substantial investments in the electric aviation sector. Startups developing novel propulsion systems require significant early-stage capital to transition from conceptual design to physical prototyping and testing.

AirPro News analysis

We note that while the $28 million figure is substantial for a regional aerospace startup at this stage, the lack of accessible public filings or widespread syndication of the press release warrants caution. Developing an all-electric jet engine using superconductors is a highly capital-intensive process. If the funding is fully realized, it will likely bridge the gap between the NMIS-supported prototype phase and initial ground testing. Certification by aviation authorities remains a distant and expensive hurdle for any novel propulsion technology.

Sources: Mako Aerospace