Joby Aviation Inc Stock Price, News & Analysis

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.

Joby Aviation (NYSE:JOBY) has taken a significant step towards becoming a certified air taxi operator in the United Arab Emirates. The company presented a Letter of Intent to initiate its Air Operator Certificate application to the UAE General Civil Aviation Authority (GCAA). This move follows Joby's agreements with Dubai's Road and Transport Authority to launch air taxi services in Dubai, and a multilateral MoU with Abu Dhabi authorities to establish services in Abu Dhabi.

Joby's electric air taxi is designed to carry a pilot and four passengers at speeds up to 200 miles per hour, potentially reducing a 45-minute car journey to just 10 minutes. The company will undergo a five-stage application process with the GCAA, including developing operating manuals, facility inspections, and observation of pilot and mechanic training.

Joby Aviation (NYSE:JOBY) demonstrated autonomous logistics aircraft operations during the U.S. Air Force's 'Agile Flag 24-3' exercise. Using a Cessna 208B Grand Caravan equipped with Xwing's autonomy technology, Joby flew over 3,900 miles between military bases and public airports in California and Nevada. The aircraft autonomously transported essential components, completing fully autonomous taxi, take-off, and landing at 9 locations without on-ground infrastructure.

Joby showcased remote supervision capabilities using a laptop and satellite communications terminal. The exercise demonstrated rapid resupply abilities and integration of autonomous aircraft into congested airspace. Col. Max Bremer highlighted the significant return on investment for the Air Force, as this technology allows preservation of larger cargo aircraft for critical tasks.

Joby Aviation, a next-gen aviation firm (NYSE: JOBY), rolled its third production prototype aircraft off its Marina, CA production line. Four aircraft are expected to be in active flight test next quarter. This announcement coincides with the release of their Q2 2024 financial results.

Second Quarter 2024 Highlights:

• Production Ramp-Up: Four aircraft are expected in active flight tests next quarter.
• Certification Progress: Fourth of five stages of type certification is 37% complete.
• International Expansion: Applied for certification in Australia and signed MOU with Mukamalah.
• Future Technologies: Flew a hydrogen-electric air taxi 561 miles and acquired Xwing's autonomy division.
• Financials: $825 million in cash and short-term investments.

The company will host a live webcast today at 2:00 PM PT (5:00 PM ET) to discuss the results.

Joby Aviation (NYSE:JOBY) has formally applied for its electric air taxi to be certified for use in Australia. This application to the Civil Aviation Safety Authority (CASA) builds on a bi-lateral agreement with the FAA and paves the way for introducing quiet, emissions-free air taxis in Australia. Joby's aircraft can carry a pilot and four passengers at speeds up to 200 mph, offering high-speed mobility with minimal noise and zero operating emissions.

The company has completed over 33,000 miles of all-electric flight testing and was the first to fly an electric air taxi in a major U.S. city. Joby has also applied for certification validation in Japan and the UK. In June 2024, Joby received FAA authorization for its 'ElevateOS' software, designed to enable high-tempo, on-demand air taxi operations.

Joby Aviation (NYSE:JOBY), a developer of all-electric aircraft for commercial passenger service, has announced its plans to release second quarter 2024 financial results after market close on Wednesday, August 7, 2024. The company will host a webcast at 5:00 pm ET on the same day to discuss the results.

Investors and interested parties can access the webcast through the Upcoming Events section of Joby's website, www.jobyaviation.com. For those unable to attend the webcast, a dial-in option is available at 1-877-407-9719 or 1-201-378-4906. A replay of the webcast will be made available on the company's website following the event.

Joby Aviation (NYSE: JOBY) has successfully completed a 523-mile flight using a hydrogen-electric air taxi demonstrator, showcasing the potential for zero-emission regional travel. The flight, which took place on June 24, 2024, in Marina, California, marks a significant milestone as the first forward flight of a vertical take-off and landing aircraft powered by liquid hydrogen.

This achievement builds on Joby's battery-electric air taxi program and involves technology from its subsidiary H2Fly. The hydrogen-electric demonstrator, a converted battery-electric aircraft, used a liquid hydrogen fuel tank and fuel cell system to power six electric motors, with water being the only by-product.

Supported by the U.S. Air Force's Agility Prime program, this demonstration aligns with broader goals of reducing energy demand and diversifying energy sources. Joby plans to leverage the same infrastructure and technology for future commercialization, aiming to redefine regional travel without emissions.

Joby Aviation announced the FAA authorization of its in-house software suite 'ElevateOS' for on-demand air taxi operations. The suite includes pilot tools, operations management, a rider app, and a matching engine. Joby has been testing the software for two years, leveraging its Part 135 certification. The company plans commercial operations by 2025, including partnerships with Delta Air Lines and exclusive services in Dubai. Joby will also support direct sales to business and government customers. ElevateOS aims to offer efficient, seamless, and high-tempo air taxi services.

Joby Aviation (NYSE: JOBY) has acquired the autonomy division of Xwing, known for its advanced autonomous aviation technology. Founded in 2016, Xwing has achieved 250 fully autonomous flights and over 500 auto-landings, marking significant milestones with the Federal Aviation Administration and the U.S. Air Force. Joby aims to leverage Xwing's Superpilot software and expertise to enhance its own electric air taxis and accelerate contracts with the U.S. Department of Defense. This acquisition complements Joby's previous purchase of Inras GmbH, enhancing its technological capabilities for future autonomous operations.