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Air Taxi Maker Joby's Stock Soars on $250M Toyota Investment

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Shares of Joby Aviation ( JOBY ) popped over 25% on Wednesday after the commercial air taxi developer said it closed a $250 million investment from Toyota Motor .

The investment is part of a larger $500 million commitment from the Japanese automaker announced in October .

Joby has partnered with Delta Air Lines and Uber to bring its commercial air taxis to U.S. markets.