Toyota is doubling down on Joby Aviation with a $500 million investment into the California-based company that's developing electric air taxis. Toyota's

Toyota Motor said Wednesday it will invest another $500 million in Joby Aviation to support certification and commercial production of Joby’s electric air taxi. The Japanese automaker's new funding is on top of $394 million in prior investments it made in Joby and is part of a strategic alliance on commercial manufacturing.

Toyota is investing another $500 million in Joby Aviation as part of a partnership aimed at helping get the American air taxi company’s commercial business off the ground.