Toyota’s been busier this May than my group chat during the nfl draft… and that’s saying something. It feels like every other day they’re announcing something that makes you double-take and go, “Wait… Toyota did what now?” First, they dropped Arene, a homegrown operating system for their next-gen cars. Not a software update. Not a UI refresh. A full-on OS that’s supposed to rival Tesla’s tech, which, if we’re keeping it real, has been eating everyone’s breakfast, lunch, and dinner in that department. And just when you thought they might take a breather, Toyota looked at the sky and said, “You know what? Let’s own that too.”

This week, they officially became the largest shareholder in Joby Aviation, a California-based company making electric vertical takeoff and landing aircraft. You know… eVTOLs. Flying taxis. The kind of stuff people in 1998 thought we’d all have by now, along with robot butlers and pants that iron themselves. These battery-powered air Ubers are designed to skip traffic and fly from an airport to downtown in, like, 6 minutes. (Or 2 if you're rich enough to own one and not wait in line.) They’re quiet, efficient, and probably still terrifying for anyone who gets nervous on a ski lift.

And now, as of today, Toyota is dumping another $250 million into Joby, as part of a previously announced $500 million commitment. Add it up with their earlier $394 million from 2020, and their tab now runs up to $894 million. (Or, as our government would say, “a rounding error.”)

That puts Toyota’s stake at 15.3%... more than Joby’s actual founder and CEO, JoeBen Bevirt. Unlike a lot of these situations, Toyota isn’t wiring money and calling it a day. They’re all-in. They’re now working side-by-side with Joby to bring their legendary manufacturing discipline into the aircraft game.

And sure, people act surprised (“Toyota? Planes?”) but fun fact: they’ve been here before. Back during World War II, Toyota made aircraft engine parts. (Which, yes, was technically for fighter planes, but hey… gotta start somewhere.) Now, Joby’s aiming to launch commercial air taxi service in Dubai by early 2026. Because of course they are. Dubai’s like, “You built a drone that can carry rich people across town? Say less.” If anyone’s going to beta test this stuff, it’s them.

Back in the U.S., Joby still needs FAA certification. But if they pull this off, it could totally reshape how we move through cities. (Or at least how billionaires move through cities). So don’t get it twisted, this feels like more than another hypey press release. This is Toyota putting the industry on notice. After decades of perfecting how we drive, they’re now engineering how we’ll fly.

Honestly, I didn’t see it coming… but now I kind of love it. The same company that gave us the Corolla might soon be flying you to your rooftop dinner reservation (if you have enough money). Oh, and I almost forgot to mention, Joby’s stock is up 26% today on the announcement.

Stock.News has positions in Tesla and Uber.