Key Takeaways Joby Aviation stock rocketed higher Wednesday after the air taxi developer said it closed a $250 million investment from Toyota Motor.The investment is part of a larger $500 million commitment from the Japanese automaker announced in October.

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,

Joby Aviation (NYSE:JOBY) soared in early trading on Wednesday after the eVTOL company announced the successful closing of the first $250 million tranche of a previously announced strategic investment from Toyota Motor Corporation (TM).