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Joby Aviation, Inc. (symbol: JOBY) is at the forefront of a transportation revolution, headquartered in Santa Cruz, California. Founded in 2009, Joby Aviation leverages advanced control systems and electric propulsion technologies initially developed at Joby Energy. The company aims to transform commuting with its innovative electric air taxis designed for commercial passenger service.
Joby Aviation's core strengths lie in its expertise in composite airframe design, high-fidelity aerodynamic analysis, and high-performance electric motor fabrication, supported by its sister company, Joby Motors. These combined capabilities position Joby uniquely in the burgeoning market of electric vertical take-off and landing (eVTOL) aircraft.
Recent achievements include successful test flights and strategic partnerships with major aerospace and transportation companies. Joby Aviation is committed to sustainability and efficiency, striving to reduce urban congestion and lower carbon emissions with its cutting-edge electric aircraft.
Current projects focus on refining their eVTOL technology, expanding their operational infrastructure, and navigating regulatory landscapes to ensure the safe and efficient deployment of their air taxis.
Joby Aviation's financial health is bolstered by significant investments from leading venture capital firms and strategic partners, demonstrating strong market confidence in their vision and technological advancements.
Stay updated with the latest developments and news about Joby Aviation as the company continues to pioneer a new era in urban air mobility.
Joby Aviation (NYSE:JOBY) announced that its electric air taxi is now available in Microsoft Flight Simulator 2024, allowing players worldwide to pilot the aircraft. The game implementation results from years of collaboration to accurately capture the aircraft's dimensions, flight physics, and controls. The Joby aircraft features unified flight controls similar to vertical-lift military aircraft, enabling intuitive transition from vertical take-off to wingborne flight.
Players can fly between helipads and airports worldwide, including potential air taxi routes like JFK Airport to Downtown Manhattan. The aircraft is designed to carry a pilot and four passengers at speeds up to 200 mph, offering high-speed mobility with reduced noise compared to helicopters and zero operating emissions.
Joby Aviation (NYSE:JOBY) has begun construction of its first vertiport at Dubai International Airport (DXB), marking the start of its planned Dubai air taxi network. This vertiport is one of four initial locations, with additional sites planned for Palm Jumeirah, Dubai Downtown, and Dubai Marina. The three-story, 3,100-square-meter facility will feature two take-off and landing stands equipped with Joby's Global Electric Aviation Charging System. The service, planned to launch as soon as late 2025, is part of an exclusive six-year agreement with Dubai Road and Transport Authority and Skyports. The vertiport will integrate with Dubai's transport network, connecting to Dubai Metro's Emirates Station 2 and DXB Airport.
Joby Aviation (NYSE:JOBY) released its Third Quarter 2024 Shareholder Letter, detailing operational and financial results for the period ending September 30, 2024.
Key highlights include:
- First International Demonstration: Conducted exhibition flights at Toyota's Higashi-Fuji Technical Center in Japan.
- Test and Certification: Achieved a milestone with the FAA-conforming major sub-assembly completion.
- Regulatory Progress: Made significant progress with regulators in targeted launch markets.
- Toyota Investment: Toyota committed an additional $500 million investment, forming a manufacturing alliance.
- Financial Position: Ended Q3 with $710 million in cash and short-term investments, excluding $222 million from a follow-on equity offering and the $500 million Toyota investment.
The company will host a live audio webcast on November 6, 2024, at 2:00 PM PT (5:00 PM ET) to discuss the results.
Joby Aviation (NYSE:JOBY) completed its first international exhibition flight at Toyota's Higashi-Fuji Technical Center in Japan. The demonstration showcased the company's electric air taxi's low acoustic footprint and emissions-free capabilities. This milestone follows Toyota's recent commitment to invest an additional $500 million in Joby, bringing their total investment to $894 million. The investment includes plans for a manufacturing alliance to support initial commercialization. Joby's aircraft is designed to transport a pilot and four passengers at speeds up to 200 mph, offering an environmentally friendly alternative to traditional transportation.
Joby Aviation (NYSE: JOBY), an electric air taxi developer, has announced the pricing of its public offering of 40,000,000 shares of common stock at $5.05 per share. The company expects to raise $202 million in gross proceeds before underwriting costs. Joby has also granted underwriters a 30-day option to purchase up to 6,000,000 additional shares. The proceeds will fund certification, manufacturing efforts, commercial operations preparation, and general corporate purposes. The offering is expected to close on October 28, 2024, with Morgan Stanley and Allen & Company serving as joint book-running managers.
Joby Aviation (NYSE: JOBY), an electric air taxi developer, has announced a public offering of up to $200.0 million of common stock, with an additional 30-day option for underwriters to purchase up to $30.0 million more shares. The proceeds will fund certification and manufacturing efforts, commercial operations preparation, and general corporate purposes. Morgan Stanley and Allen & Company are serving as joint book-running managers. The offering follows a Form S-3 registration statement filed with the SEC on October 24, 2024.
Joby Aviation (NYSE:JOBY) is hosting international aviation regulators at its California facilities as part of its global certification efforts. Representatives from the UK Civil Aviation Authority, Japan Civil Aviation Bureau, and Australia's Civil Aviation Safety Authority are participating in a week-long 'technology familiarization' session, engaging with Joby and FAA teams to harmonize certification approaches for electric air taxis. Joby has completed the third of five FAA type certification stages and over one-third of the fourth stage as of August 2024. The company's aircraft is designed to transport a pilot and four passengers at speeds up to 200 mph.
Joby Aviation (NYSE:JOBY), a developer of all-electric aircraft for commercial passenger service, has announced it will release its third quarter 2024 financial results after market close on Wednesday, November 6, 2024. The company will host a webcast at 5:00 pm ET on the same day. Investors can access the webcast through the company's website or dial in via phone. A replay will be available on the website after the event.
Joby Aviation (NYSE:JOBY) has welcomed the Federal Aviation Administration's (FAA) release of new operating regulations for electric air taxis. The Special Federal Aviation Regulation (SFAR) establishes requirements for the safe integration of aircraft like Joby's into the U.S. aviation system, paving the way for commercial passenger service once Joby receives type certification.
The new rules cover pilot training and operation of air taxis, allowing pilots to train in powered-lift with a single set of flight controls. The regulations also include helicopter-based energy reserve requirements for commercial operations. This development aligns with the 2024 FAA Reauthorization Act's mandate to prepare for the introduction of electric and hydrogen-electric aircraft.
Joby's aircraft is designed to carry a pilot and four passengers at speeds up to 200 mph, offering high-speed mobility with significantly reduced noise compared to helicopters and zero operating emissions.
Toyota Motor has announced a $500 million investment in Joby Aviation (NYSE:JOBY), a company developing electric air taxis. This investment will be made in two equal tranches, with the first targeted to close later this year and the second in 2025. The funds will support the certification and commercial production of Joby's electric air taxi.
The investment terms include plans to establish a manufacturing alliance for the first phase of commercialization. This additional investment will bring Toyota's total investment in Joby to $894 million. Joby has been making progress towards commercialization, recently rolling out its third aircraft from its pilot production line and breaking ground on an expanded facility in California.
Toyota's involvement includes sharing knowledge of the Toyota Production System and supplying key powertrain and actuation components for Joby's aircraft production. The collaboration aims to realize the shared vision of air mobility for personal or daily travel.
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