Toyota-backed air taxi startup Joby explores deal to go public through SPAC merger

Toyota-backed air taxi startup Joby explores deal to go public through SPAC merger

A 2014 image of Joby Aviation's prototype. Credit: Joby Aviation social media

Electric passenger aircraft developer Joby Aero Inc is exploring a deal to go public through a merger with a blank-check acquisition firm at a valuation of around $5 billion, according to people familiar with the matter.