Joby Aviation Inc ( JOBY ) shares are trading higher Wednesday after the company announced the closing of a $250 million investment from Toyota Motor Corp ( TM ) .

What Happened: Electric vertical take-off and landing (eVTOL) air taxi company Joby announced that it closed on the first $250 million tranche of its previously announced strategic investment from Toyota ( TM ), strengthening the long-term collaboration between the two companies.

The funding is expected to support certification and commercial production of Joby’s electric air taxi and also brings the companies closer to a strategic manufacturing alliance.

“We’re already seeing the benefit of working with Toyota ( TM ) in streamlining manufacturing processes and optimizing design,” said JoeBen Bevirt, founder and CEO of Joby.

“This is an important next step in our alliance with Toyota ( TM ) to scale the promise of electric flight. With this capital and Toyota’s legendary production expertise, we’re enhancing our ability to scale cutting-edge design and manufacturing to meet the demands of our partners and customers.”

See Also: Turbulence for Joby Shares: What’s Behind the Recent Dip?

Is JOBY A Good Stock To Buy?

An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like Joby Aviation ( JOBY )‘s page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

These are known as capital allocation programs. Joby does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on Joby Aviation ( JOBY ) will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.

JOBY Price Action: Joby has a 52-week low of $4.66 and a 52-week high of $10.72. Joby Aviation ( JOBY ) shares were up 13.9% at $7.83 at the time of publication Wednesday, according to Benzinga Pro.

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