Toyota is also entering the aerospace business

The Japanese company also sees a great opportunity in the flying taxi service.The Japanese teamed up with Joby Aviation, a company that develops and markets fully electric, vertically take-off and landing aircraft.

The Joby C-Series will cost $ 590 million to develop, with Toyota becoming the main investor. The Japanese giant has entered the project with $ 394 million and is also involved in manufacturing, quality assurance and cost control processes. The Joby C is a five-seater aircraft that can fly at speeds of over 300, with nearly 250 kilometers on a single charge. According to the company, one of the great advantages of their aircraft is that it is a hundred times quieter than a modern aircraft takes off and landed.

More than 100 companies are already working on such urban air mobility devices, including Airbus and Boeing. Among the carmakers, the Porsche or Daimler-backed Volocopter is competing to produce a marketable flying car as soon as possible.