Joby Applies for Japan Aircraft Certification

Rhea-AI Summary

Joby Aviation (NYSE: JOBY) has formally applied for certification of its eVTOL aircraft in Japan as part of a newly streamlined process between Japanese and U.S. aviation regulators. This application is a critical step towards launching aerial ridesharing services in Japan, where Joby plans to use its five-seat aircraft to enhance urban connectivity in cities like Tokyo, Yokohama, and Osaka. With significant investments from Toyota and partnerships with ANA Holdings, Joby aims to revolutionize transportation while focusing on safety and environmental sustainability.

Positive

• Application for eVTOL aircraft certification in Japan marks a significant step for Joby.
• Agreement between Japanese and U.S. regulators simplifies the certification process.
• Joby's partnership with Toyota includes nearly $400 million investment, boosting financial backing.
• Collaboration with ANA Holdings aims to accelerate aerial ridesharing services in Japan.

Negative

• None.

• Company intends to bring revolutionary “eVTOL” technology to Japan
• New agreement between Japanese and U.S. aviation regulators streamlines process

SANTA CRUZ, Calif. & TOKYO--(BUSINESS WIRE)-- Joby Aviation, Inc. (NYSE:JOBY), a California-based company developing all-electric aircraft for commercial passenger service, today confirmed it has formally applied for its revolutionary aircraft design to be certified for use in Japan. The news comes as Japanese and U.S. regulatory authorities confirmed earlier today that they have reached an agreement to deliver a streamlined approval process for U.S. applicants who wish to validate their eVTOL (“electric vertical take-off and landing”) aircraft designs in Japan.

Joby’s all-electric, vertical take-off and landing aircraft during a flight test. (Photo: Business Wire)

Joby’s application to the Japan Civil Aviation Bureau (“JCAB”) for the validation of an FAA (“Federal Aviation Administration”) “type certification”, is believed to be the first of its type and is a necessary step to launching aerial ridesharing services in Japan. Joby plans to use its five-seat, piloted eVTOL aircraft to connect people and cities through fast, quiet, and emissions-free flight.

Commenting on the application, JoeBen Bevirt, founder and CEO, Joby Aviation, said: “We’re incredibly excited about the potential for electric aerial ridesharing to offer a new form of clean and affordable urban and regional connectivity across Japan.

“With 92% of residents living in urban areas, we have a spectacular opportunity to save people time in congested cities like Tokyo, Yokohama, and Osaka while also reducing their impact on the environment.

“We strongly believe that a collaborative approach to regulation helps to foster greater safety and, by working hand-in-hand on certification, Japan and the U.S. are ensuring that both countries continue to play a leading role in the adoption of climate-friendly transportation.”

Joby has long-standing ties with Japan, having welcomed Toyota as a strategic partner in 2018. As well as lending their expertise on manufacturing process development and high-volume production, Toyota is also Joby’s largest outside investor, with nearly $400m invested to date. Earlier this year, Joby also entered into a partnership with ANA Holdings Inc., Japan’s largest airline, to bring aerial ridesharing services to the Japanese market. Joby is a member of Japan’s Public-Private Conference for the Future Air Mobility Revolution, established by the Ministry of Economy, Trade and Industry to accelerate the adoption of aerial ridesharing in the country.

Type certification is a multi-year process which sees a company undertake rigorous testing and documentation across each aircraft system to prove the aircraft meets safety standards and is ready for commercial operations. Similar type certification processes are undertaken for all aircraft, big and small – an approach that has helped shape air travel into one of the safest forms of transportation available today.

Images and film of Joby’s aircraft are available in Joby’s media kit.

ABOUT JOBY

Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric vertical take-off and landing aircraft which it intends to operate as part of a fast, quiet, and convenient service in cities around the world. To learn more, visit www.jobyaviation.com.

Forward Looking Statements

This release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the development and performance of our aircraft, the growth of our manufacturing capabilities, our regulatory outlook, progress and timing; our business plan, objectives, goals and market opportunity; and our current expectations relating to our business, financial condition, results of operations, prospects, capital needs and growth of our operations. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including: our ability to launch our aerial ridesharing service and the growth of the urban air mobility market generally; our ability to produce aircraft that meet our performance expectations in the volumes and on the timelines that we project, and our ability to launch our service; the competitive environment in which we operate; our future capital needs; our ability to adequately protect and enforce our intellectual property rights; our ability to effectively respond to evolving regulations and standards relating to our aircraft; our reliance on third-party suppliers and service partners; uncertainties related to our estimates of the size of the market for our service and future revenue opportunities; and other important factors discussed in the section titled “Risk Factors” in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on March 28, 2022, and in future filings and other reports we file with or furnish to the SEC. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this presentation. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221017006062/en/

Investors:

investors@jobyaviation.com

+1-831-201-6006

Media:

press@jobyaviation.com

Source: Joby Aviation, Inc.

FAQ

What is Joby Aviation's recent PR about?

Joby Aviation announced its application for certification of eVTOL aircraft in Japan, facilitated by a new agreement between Japanese and U.S. aviation regulators.

What does eVTOL stand for in Joby Aviation's announcement?

eVTOL stands for electric vertical take-off and landing, referring to the aircraft technology Joby is developing.

How much investment has Toyota made in Joby Aviation?

Toyota has invested nearly $400 million in Joby Aviation, making it the company's largest outside investor.

How will Joby Aviation's eVTOL aircraft impact urban transportation in Japan?

Joby Aviation's aircraft aims to provide fast, quiet, and emissions-free flights to improve urban mobility in congested cities like Tokyo.

What cities in Japan are being targeted for Joby Aviation's services?

Joby Aviation is focusing on major urban areas like Tokyo, Yokohama, and Osaka for its aerial ridesharing services.