Japanese auto giant Toyota revealed on Wednesday that it will invest an additional $500 million in a US electric air taxi company. The investment is to support the certification and commercial production of California-based Joby Aviation. The funding is to be completed in two equal tranches, the first of which is due to be closed later this year, with the second in 2025. The additional investment will be made in cash for shares and will push Toyota’s total investment in Joby to $894 million. Toyota engineers now work side-by-side with the Joby team in California.