Toyota has invested $250 million in Joby Aviation, completing the first half of a previously announced $500 million commitment and becoming the air taxi maker’s largest shareholder.

Joby Aviation shares jumped about 29% Wednesday after the maker of electric air taxis said it received $250 million from Toyota. The payment is part of a previously announced deal from the ...

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Toyota Motor Corp. has invested $250 million in Joby Aviation Inc., completing the first half of a previously announced $500 million commitment and becoming the air taxi maker’s largest shareholder.

Toyota Motor Corp. has invested $250 million in Joby Aviation Inc., completing the first half of a previously announced $500 million commitment and becoming the air taxi maker’s largest shareholder.