# Joby Aviation to get investment from Tesla shareholder Baillie Gifford
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-05-04
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Baillie Gifford invests $180 million in Joby Aviation
Meta Description: British investment firm Baillie Gifford commits significant funding to Joby Aviation, fueling their growth as a leading player in the electric aircraft market.
URL: https://financedigest.com/joby-aviation-to-get-investment-from-tesla-shareholder-baillie-giffordhtml

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# Joby Aviation to get investment from Tesla shareholder Baillie Gifford

(Reuters) – British investment management firm Baillie Gifford will invest $180 million in electric aircraft maker Joby Aviation, they said on Wednesday.

This comes days after Joby clinched a $55 million contract extension to deliver up to nine air taxis to the U.S. Air Force, marking the company’s first revenue-generating operations.

Unlike other electric vertical takeoff and landing (eVTOL) manufacturers, which plan to sell aircraft to customers such as airlines and logistics companies, Joby’s [business model](https://www.financedigest.com/why-now-is-the-time-to-implement-a-time-saving-business-model-encouraging-team-members-to-discuss-their-challenges.html "Why now is the time to implement a time saving business model, encouraging team members to discuss their challenges") is similar to a rideshare app.

It is important as long-term investors – even more so in a challenging environment – that we maintain our approach of backing transformational companies to build new [growth industries,”](https://www.financedigest.com/oryzanol-market-share-size-analysis-growth-industry-statistics-and-forecast-2028.html "Oryzanol Market Share, Size, Analysis, Growth, Industry Statistics and Forecast 2028") a Baillie Gifford spokesperson said in a statement.

The British investment firm are also investors in Elon Musk-led electric vehicle [maker Tesla Inc and online](https://www.financedigest.com/how-to-use-an-online-logo-maker.html "How To Use An Online Logo Maker") retailer Amazon.com Inc.

The [investment is expected](https://www.financedigest.com/global-lycopene-market-outlook-business-challenges-investment-opportunities-progression-status-revenue-expectation-and-forecast-2022-2029.html "Global Lycopene Market Outlook Business Challenges, Investment Opportunities, Progression Status, Revenue Expectation and Forecast 2022-2029") to close on May 5, Baillie Gifford and Joby said on Wednesday.

Joby also reported cash and short-term [marketable securities of $978 million at the end of the first quarter](https://www.financedigest.com/portugals-galp-quarterly-profit-up-62-below-market-forecast.html "Portugal’s Galp quarterly profit up 62%, below market forecast"), before the investment.

Once certified, the EVTOL maker will compete in a crowded [market with dozens of other developers](https://www.financedigest.com/crowdsourcing-of-data-to-drive-the-high-throughput-process-development-market.html "Crowdsourcing of data to drive the High Throughput Process Development Market") such as Archer Aviation and Vertical Aerospace Ltd vying to revamp urban transportation.

(Reporting by Akash Sriram and Aishwarya Nair in Bengaluru; Editing by Maju Samuel)


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