Joby Aviation, Inc. - JOBY STOCK NEWS

Joby Aviation (NYSE:JOBY) has entered a long-term agreement with Toyota Motor Corporation (NYSE:TM) for the supply of critical powertrain and actuation components necessary for its all-electric aircraft. This partnership builds on the existing collaboration, with Toyota as Joby's largest external investor, contributing approximately $400 million to the company. The agreement aims to enhance Joby's production capabilities, leveraging Toyota's expertise in high-volume manufacturing while aiming for the mass production of eVTOL aircraft. Joby is also developing an air taxi service in Japan, working with Toyota's subsidiary Aero Asahi and has applied for FAA certification, indicating potential expansion in urban air mobility.

Joby Aviation has announced a $55 million extension to its contract with the U.S. Air Force, raising the total contract value to $131 million. This agreement allows for Joby to deliver and operate up to nine electric vertical take-off and landing (eVTOL) aircraft, with the first two expected at Edwards Air Force Base by early 2024. These aircraft will be used for logistics like cargo and passenger transportation, marking the first electric air taxis at a U.S. military base.

Recently, Air Force pilots became the first to fly an eVTOL as sole pilot-in-command. Joby sees this partnership as a significant step towards commercial operations expected to begin in 2025.

Joby Aviation, Inc. (NYSE:JOBY), a California-based company focused on all-electric aircraft, announced its first quarter 2023 financial results release scheduled for May 3, 2023, after market close. A corresponding webcast will be held at 5:00 PM ET on the same day, accessible via the company's website. Joby aims to revolutionize urban transportation with its vertical take-off and landing aircraft, enhancing city mobility.

As an innovative player in the aerial ridesharing market, Joby emphasizes its commitment to delivering a fast and convenient transportation solution. The company is currently preparing to launch its services and is optimistic about future growth prospects in the urban air mobility sector.

Joby Aviation, Inc. (NYSE:JOBY) announced the appointment of Michael Huerta, former FAA Administrator, to its Board of Directors. Huerta brings extensive aviation expertise, which is crucial as Joby approaches commercial operations of its all-electric aircraft in 2025. He previously served on Delta Air Lines' Board, which invested $60 million in Joby in 2022, potentially increasing to $200 million. This strategic move comes as Joby progresses through FAA certification stages for its eVTOL aircraft, currently the first to achieve critical airworthiness approvals. Huerta’s appointment is seen as essential for fostering partnerships and advancing innovative aviation technologies.

Joby Aviation, Inc. (NYSE: JOBY), a California-based company focused on all-electric aircraft, announced its financial results for Q4 and full year 2022. Investors can find detailed information in the fourth quarter shareholder letter available on the company’s investor relations website. A live audio webcast will occur on February 22, 2023, at 2:00 p.m. PT (5:00 p.m. ET), allowing stakeholders to delve into the financial data. Joby aims to modernize urban transportation with its innovative aerial service, although they highlight potential risks associated with regulatory challenges and market competition.

Joby Aviation (NYSE:JOBY) has commenced testing its electric vertical take-off and landing (eVTOL) aircraft propeller at NASA's National Full-Scale Aerodynamic Complex (NFAC), the largest wind tunnel facility globally. This pivotal testing phase aims to provide vital data for the aircraft's certification with the Federal Aviation Administration (FAA). Joby expects the tests to yield superior data quality, enhancing its commercial aviation rollout planned for 2025. With over 1,000 test flights completed, Joby's aircraft aims for zero emissions and rapid urban air transport.

Joby Aviation (NYSE:JOBY) has commenced the final assembly of its first company-conforming electric, vertical take-off and landing (eVTOL) aircraft at its manufacturing facility in Marina, California. This significant milestone is crucial for achieving Federal Aviation Administration (FAA) type certification for commercial passenger operations. The aircraft's assembly includes integrating major aerostructures and installing essential systems, with flight testing anticipated in the first half of 2023. Joby is also exploring proposals for a Phase 1 production facility while continuing to enhance its robust Quality Management System, essential for regulatory approval.

Joby Aviation (NYSE:JOBY), a California-based company, has successfully completed the second of five stages in the FAA certification process for its eVTOL aircraft, marking a critical milestone towards launching commercial passenger services by 2025. This achievement follows the completion of the first stage and publication of the Certification Basis in the Federal Register. Joby has submitted four area-specific certification plans and its first equipment-level qualification test plan to the FAA. Currently, 94% of the Means of Compliance are accepted, moving Joby closer to final certification and operational goals.