Joby Aviation, Inc. - JOBY STOCK NEWS

Joby Aviation (NYSE:JOBY) has achieved a significant milestone in its electric air taxi development by completing the first FAA-credited major aerostructure testing. The company successfully conducted static load testing on the tail structure of its aircraft with FAA representatives present in Santa Cruz, CA.

The testing campaign is part of the FAA type certification process, involving comprehensive evaluation of all aircraft structures, components, and systems. During the tests, engineers applied forces exceeding maximum expected flight loads to the FAA-conforming tail structure.

The company's electric air taxi is designed to transport a pilot and four passengers at speeds up to 200 mph, promising reduced noise compared to helicopters and zero operating emissions.

Joby Aviation (NYSE:JOBY) has successfully completed flight tests in Korea as part of the K-UAM Grand Challenge, becoming the first electric air taxi company to do so. The tests, conducted at Goheung Aviation Test Center, demonstrated various flight profiles including fully wing-borne flight.

The company participated as part of the 'K-UAM Dream Team' consortium, which includes SK Telecom, Hanwha Systems, TMAP, and Korea Airports The achievement marks Joby's third country airworthiness certification after the United States and Japan.

The tests will conclude with a demonstration event on December 14, showcasing the aircraft's quiet acoustic footprint to over 200 guests. Joby's electric air taxi is designed to transport a pilot and four passengers at speeds up to 200 mph, offering zero-emission transportation.

Joby Aviation (NYSE:JOBY) and Jetex have announced a strategic partnership to integrate electric air taxi services into Jetex's private terminal network. The collaboration will initially focus on Middle East locations, where Joby will install its Global Electric Aviation Charging System (GEACS). The partnership aims to connect Jetex passengers to a network of vertiports across the region.

Joby has secured exclusive rights to operate air taxis in Dubai for six years through an agreement with Dubai's Road and Transport Authority. Construction of the first vertiport has begun at Dubai International Airport. The company has also signed agreements in Abu Dhabi to establish air taxi services and has applied to become the UAE's first certificated air taxi operator.

Joby's aircraft can transport a pilot and four passengers at speeds up to 200 mph with zero operating emissions.

Joby Aviation (NYSE:JOBY) has completed a maintenance training program with the U.S. Air Force for its electric aircraft. The four-week program, conducted at Joby's facilities in Marina, California, trained Air Force service members, including a flight test pilot and aircraft maintainers, on inspection and maintenance procedures. The training was based on the Aircraft Maintenance Manual developed for FAA type certification and included both classroom instruction and hands-on experience.

This follows the April 2023 milestone where four U.S. Air Force pilots became the first to fly Joby's eVTOL aircraft as sole remote pilot-in-command. The company's electric air taxi is designed to transport a pilot and four passengers at speeds up to 200 mph, featuring reduced noise compared to helicopters and zero operating emissions.

Joby Aviation (NYSE:JOBY) has achieved two significant regulatory milestones: receiving an FAA Part 141 certificate for its flight academy and acceptance into the FAA Part 5 Voluntary Safety Management System (SMS) for air operations. The Part 141 certificate will enable Joby to provide streamlined pilot training and develop a qualified pilot pipeline for its future commercial air taxi operations. The SMS acceptance demonstrates the company's commitment to safety protocols and comes years ahead of the FAA mandate deadline. Both achievements are essential requirements for launching Joby's planned air taxi service, which will operate aircraft designed to carry a pilot and four passengers at speeds up to 200 mph.

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.