Toyota announces huge ₦126billion investment on Flying VOTL cars

A few years back, the concept of electric cars was mere fiction, but today, every giant in the automobile manufacturing industry has jumped on the bandwagon as it's fast becoming the “new norm”. In a similar vein, Toyota has shown an early interest in pioneering “Flying cars” as it recently announced a huge ₦126billion ($349 million) investment on Flying VOTL cars.

Toyota leaps into the world of Flying cars with a recent announcement of huge capital investment

It is most likely that Toyota’s sudden interest in VOTL (Vertical take-off and landing) aircraft is fueled by the currently increasing popularity of modern drones and the need to take transportation in urban areas to the sky.

>>> More on the development of flying cars. See here: Uber & Hyundai shake hands to produce fully-electric flying cars

Even though Toyota seems like an “early bird”, other popular automakers like Audi and Hyundai have even gone farther with various ongoing projects such as the S-A1 PAV prototype flying car presented by Hyundai in partnership with UBER at the 2020 CES in Las Vegas, U.S.A.

Toyota CEO, Akio Toyoda said in a statement when announcing the huge capital investment:

“Air transportation has been a long-term goal for Toyota, and while we continue our work in the automobile business, this agreement sets our sights to the sky,” said in a statement Toyota CEO Akio Toyoda.

“As we take up the challenge of air transportation together with Joby, an innovator in the emerging eVTOL space, we tap the potential to revolutionize future transportation and life.”

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