Joby Aviation, a pioneer in the development of an electric air taxi, received clearance from the Committee on Foreign Investment in the United States (CFIUS) on December 20, 2019, in connection with the direct minority investment in Joby Aviation by Toyota Motor Corporation. CFIUS concluded that there were no unresolved national security issues with respect to the transaction.
Latham & Watkins LLP represents Joby Aviation in the transaction and advised the company on the CFIUS clearance process. The CFIUS team was led by Washington, D.C. partners Steven Croley and Les Carnegie, with associates Julie Choi Shin and Ethan Prall. The corporate deal team was led by Bay Area partners Jack Sheridan and Ben Potter, with associates Michael Podolny and Madelyn Tarr, as detailed here.