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Joby Aviation

Joby Aviation, Inc. is a California-based company founded in 2009 that designs, manufactures, and plans to operate for , focusing on quiet, all-electric services to enable aerial ridesharing and connect people more efficiently. The company's flagship features six tilting electric motors, seats one pilot and four passengers, and provides a range of up to 100 miles at speeds of 200 miles per hour while producing noise levels comparable to a conversation. Headquartered in , with over 2,000 employees across facilities in the U.S. and , Joby began as a small team of seven engineers developing electric technologies and has since expanded into a vertically integrated operation handling design, systems, and flight software. Key early milestones include a 2012 partnership with on electric flight projects like the X-57 Maxwell aircraft, the first full-scale demonstrator flight in 2017, and receiving U.S. Air Force airworthiness approval in 2020 as the first company to do so. In 2021, Joby went public on the under the ticker JOBY and completed over 5,300 miles of test flights with a . Joby has secured strategic partnerships with major entities, including (which has invested over $500 million), for ridesharing integration, for future operations, and the U.S. Department of Defense for applications. The company received its FAA Part 135 Air Carrier Certificate in 2022, enabling commercial operations, and began production of FAA-conforming aircraft components in its facility in 2023, with plans for a high-volume site in , capable of producing up to 500 aircraft annually. As of November 2025, Joby is in the final phase of FAA type certification, having commenced power-on testing of its first FAA-conforming prototype and produced 15 times more such parts compared to 2024. The company has also expanded internationally, signing an agreement to sell up to $250 million in and services to Alatau Advance Air Group for Kazakhstan's first air taxi network. Additionally, Joby is integrating Nvidia's AI technologies to enhance safety-critical aviation applications, positioning it as a leader in the emerging market.

History

Founding and Early Years

Joby Aviation was founded in 2009 by in , initially operating out of a workshop known as "The Barn" in the mountains above the city. The company began as Joby Aero with a small team of seven engineers focused on developing personal and advancing vertical flight technologies through innovative engineering. From 2009 to 2015, Joby Aviation concentrated its efforts on electric custom lithium-ion batteries, electric motors, and flight software from the ground up to enable efficient vertical takeoff and landing capabilities. These early innovations emphasized lightweight, high-efficiency components to support sustainable , laying the technical foundation for future designs. In 2012, Joby Aviation entered into a significant with on electric flight initiatives, including contributions to the X-57 Maxwell and the LEAPTech distributed demonstrator project, which provided early external validation of the company's technologies. This partnership marked a pivotal moment, highlighting Joby's role in advancing 's goals for quieter, more efficient electric aviation. By 2015, Joby Aviation had expanded its initial team and shifted its primary focus toward electric vertical takeoff and landing () aircraft, securing early patents for tilt-rotor concepts that integrated flight efficiencies. This positioned the company to into in subsequent years.

Prototype Development and Testing

Joby Aviation developed its first full-scale in 2017, incorporating six tilting propellers designed to enable vertical takeoff and efficient forward flight. This marked a significant advancement from earlier subscale models, building on foundational research including early collaborations with on electric propulsion concepts. The aircraft's design emphasized distributed electric propulsion to achieve quieter operations suitable for urban environments. In 2017, the also achieved the first remotely piloted full from vertical to forward flight. Initial testing commenced with tethered hover flights in 2017 at the company's facility in , validating stability and control systems in a controlled environment. By 2018, Joby progressed to untethered flights, demonstrating sustained hover and basic maneuvers without ground constraints, which confirmed the prototype's airworthiness for more dynamic operations. These tests laid the groundwork for advanced flight regimes, accumulating essential data on performance and structural integrity. Between 2019 and 2020, Joby achieved key milestones, including receiving U.S. Air Force airworthiness approval in 2020 as the first eVTOL company to do so. By 2021, efforts culminated in over 1,000 test flights across multiple prototypes, providing comprehensive validation of the aircraft's reliability and performance envelope, along with a NASA-partnered acoustic flight test to measure noise signatures and refine propeller designs. A pivotal 2021 demonstration saw the prototype complete a 154-mile flight on a single charge, establishing proof-of-concept for extended range capabilities essential for regional air mobility. This achievement highlighted the efficiency of the all-electric powertrain and advanced battery management systems. Later that year, Joby merged with Reinvent Technology Partners via a SPAC transaction, achieving a public listing on the NYSE with a $6.6 billion post-money valuation and securing funding to accelerate development. Testing continued post-2021 with the introduction of piloted flights. In late 2023, Joby conducted its first flights with a pilot on board for hover and basic maneuvers. By April 2025, the company achieved the first piloted full transition from vertical to forward flight and back. In August 2025, Joby completed the first piloted flight between two public airports, from Municipal Airport to in . Most recently, on November 7, 2025, Joby flew its first turbine-electric demonstrator at the facility, integrating a for extended range applications while building on the all-electric testing.

Technology

Aircraft Design

Joby Aviation's S4 aircraft is designed as a five-seat electric vertical takeoff and landing (eVTOL) vehicle, configured to carry one pilot and up to four passengers in a side-by-side seating arrangement within a compact cabin optimized for urban air mobility. The airframe utilizes advanced carbon fiber composite materials, comprising approximately 85% of the primary structure, to achieve a lightweight yet durable design that enhances efficiency and structural integrity while meeting rigorous aviation safety standards. This composite construction allows for a maximum takeoff weight of 5,300 pounds (2,404 kg), balancing payload capacity with the demands of frequent short-range operations in dense urban environments. The S4 incorporates a six-rotor tilt-propeller mounted on a fixed with a , enabling seamless transitions between vertical and horizontal flight modes. All six propellers, each with five blades, are tilting: the four forward rotors fully rotate via their nacelles for primary in , while the two rotors employ a linkage mechanism to tilt for lift augmentation during hover and efficient forward flight. This distributed arrangement provides inherent redundancy and supports vertical capabilities without runways, while the wing-borne phase optimizes aerodynamic lift for . The aircraft's dimensions, including a wingspan of approximately 38 feet and a fuselage length of about 21 feet, are tailored for compatibility with compact vertiports in settings, facilitating easy integration into existing . Flight control is managed through a system that integrates sensors, actuators, and software for precise handling across all flight regimes, incorporating 10 movable control surfaces—including split flaps, ailerons, and rudders—for enhanced , maneuverability, and . The flight software incorporates technologies from for enhanced safety-critical applications and autonomy features. Safety is further bolstered by the distributed electric propulsion layout, which allows the aircraft to maintain controlled flight even in the event of a single motor or through automatic reconfiguration and power redistribution. Additionally, the blades feature specialized low-noise shaping and optimized tip speeds to minimize acoustic signatures, ensuring compliance with urban noise regulations and enabling quieter operations near populated areas compared to traditional helicopters. The electric motors are seamlessly integrated into the tilting nacelles, supporting the overall fault-tolerant without compromising the structural design.

Propulsion and Performance

The Joby Aviation S4 aircraft employs a distributed electric system consisting of six high-performance electric motors powered by lithium-ion batteries with an of approximately 235 Wh/kg at the pack level. These motors deliver a combined peak power output sufficient to support vertical takeoff and landing () as well as efficient horizontal cruise, with each motor rated at around 236 kW. The system integrates with tilting propellers to enable seamless transition between flight modes, optimizing power distribution for missions. Key performance metrics of the S4 include a maximum speed of 200 mph (322 km/h), a range of up to 100 miles (161 km) on a single charge including reserves, and a of 5,300 lb (2,404 kg). These specifications allow the to accommodate one pilot and four passengers while maintaining operational reserves for typical routes. The propulsion system's efficiency is tailored for urban operations, with optimized to cover 100-mile routes using the 's capacity to deliver sustained power without intermediate refueling. This is supported by rapid recharging capabilities, enabling a full charge in about 15 minutes via fast chargers that incorporate liquid cooling to manage thermal loads and extend life. The pack's design ensures reliable energy delivery for multiple daily flights, aligning with the demands of high-utilization services. A notable feature of the S4's is its low profile, registering under 45 at 500 meters during cruise, achieved through optimized blade shapes and the inherently quiet operation of electric . This acoustic performance, verified in testing, minimizes community impact in dense urban environments.

Business Operations

Financing and Investments

Joby Aviation has secured substantial financing to support its of , raising over $1.2 billion across ten rounds that include early-stage, late-stage, post-IPO offerings, and as of November 2025. These funds have been instrumental in advancing research, , and certification efforts for its technology. Early funding included a $100 million Series B round in February 2018, led by with participation from Toyota AI Ventures, Technology Ventures, and others. This was followed by a $590 million Series C round in January 2020, led by Motor Corporation with a $394 million commitment, alongside investments from Technologies and additional backers like . A pivotal milestone came in February 2021 through a SPAC merger with Reinvent Technology Partners, valuing Joby at $6.6 billion and providing up to $1.6 billion in gross proceeds to fuel commercialization. Toyota has emerged as a major long-term investor, building on its initial stakes with an additional $500 million commitment announced in October 2024 to aid and production scaling. The first $250 million closed in May 2025, with the second tranche anticipated in late 2025 but not yet closed as of 2025, such that Toyota's current total investment stands at approximately $644 million and is planned to reach $894 million upon completion. Other notable investments include a $60 million equity stake from in October 2022, with potential expansion to $200 million tied to milestones, and a $180 million post-IPO investment from in May 2023. In October 2025, Joby raised $514 million through an underwritten public equity offering, providing net proceeds of approximately $576 million to support scale-up. As of the third quarter of 2025, Joby reported $23 million in , including $14 million attributable to its acquisition of Blade's operations, while maintaining an ongoing cash burn rate for amid a strong with $978.1 million in cash and equivalents. These resources, including recent inflows, are being directed toward expansions to enable production of its fleet.

Manufacturing and Facilities

Joby Aviation maintains its headquarters and primary operations in and , where , , and prototyping activities are centered. As of 2024, the company employs 2,029 people across its facilities, with a significant portion based in these locations to support innovation in electric vertical (eVTOL) technology. The company's primary manufacturing hub is located in Dayton, Ohio, selected in September 2023 as the site for scaled aircraft production, with plans to invest up to $500 million in the facility. This site, leveraging the region's aviation heritage, is designed to achieve an annual production capacity of up to 500 aircraft once fully operational, focusing on assembly of composite airframes and integration of propulsion systems. Additionally, Joby operates a manufacturing facility in Marina, California, which has been expanded to 435,500 square feet and can produce up to 24 aircraft per year, serving as a key site for initial production scaling. Joby's supply chain emphasizes for critical components, including in-house production of motors, batteries, and composite materials to ensure and performance optimization. The company has established a long-term partnership with to supply and actuation components, enhancing reliability in high-volume . In 2025, Joby achieved a key production milestone by completing assembly of its first FAA-conforming and initiating power-on testing at its facilities, paving the way for Type Inspection Authorization (TIA) evaluations by FAA pilots later in the year. The workforce expansion supports U.S.-based job creation, with the Dayton facility expected to generate hundreds of local positions in advanced manufacturing. efforts include the adoption of sources in operations and processes designed to minimize waste in composite fabrication, aligning with the company's goal of zero-emission aviation.

Partnerships and Expansion

Strategic Alliances

Joby Aviation has formed several strategic alliances to advance its technology integration, operational capabilities, and market entry strategies. In October 2022, the company announced a multi-year commercial and operational partnership with to integrate Joby's services into airport shuttle operations, enabling seamless home-to-airport transfers for Delta customers. This agreement grants Delta exclusive rights as Joby's partner in the United States for five years following commercial launch, focusing on the East Coast markets to enhance premium connectivity. In March 2025, Joby partnered with to support the rollout of services in the , emphasizing regulatory advocacy to secure approvals and collaborative customer marketing efforts to promote zero-emission urban mobility. The collaboration aims to establish flight networks connecting Virgin Atlantic's hubs in the north and south of the UK, facilitating short-range, high-speed journeys for passengers. Joby's longstanding relationship with , initiated through a multi-year commercial partnership, positions the ride-hailing platform as an early investor and key collaborator for integrating bookings into its app, enabling seamless transitions from ground to air transport. This alliance builds on Uber's 2020 divestiture of its Elevate division to Joby and continues to explore travel solutions across U.S. launch cities. In August 2025, Joby and Holdings agreed to jointly develop Japan's ecosystem, including infrastructure planning and operational testing to accelerate commercialization. The partnership culminated in public flight demonstrations of Joby's aircraft at in September and October 2025, marking the first such showcase at a World Expo and highlighting quiet, electric flight capabilities for urban routes. On August 1, 2025, Joby announced a collaboration with Technologies to develop a hybrid vertical takeoff and landing () aircraft for defense applications, focusing on optionally piloted or fully autonomous operations, with planned for fall 2025. In October 2025, Joby partnered with as the launch partner for the IGX Thor platform to accelerate development of its Superpilot autonomous flight technology for both civil and military applications. A pivotal acquisition in August 2025 involved Joby's purchase of Air Mobility's passenger business for up to $125 million, integrating Blade's established operations to bolster Joby's commercialization efforts. This deal added access to 12 urban terminals in key U.S. and European markets, route expertise in premium corridors such as , and a customer base that transported approximately 40,000 passengers quarterly, providing immediate operational scale and infrastructure for transitions. Complementing these efforts, has contributed non-financial technical expertise in areas like systems and processes to enhance Joby's performance.

Global Market Initiatives

Joby Aviation has pursued international expansion through targeted agreements for aircraft sales, operational services, and infrastructure development in emerging markets. In November 2025, the company signed a with Alatau Advance Air Group, a Kazakhstan-based operator, to sell up to $250 million worth of aircraft and related services, marking the establishment of the country's first network. This deal, supported by the Republic of , positions the region as a potential hub for in , with Alatau responsible for integrating the service into local transportation systems. In June 2025, aviation regulators from , , , the , and the , through the National Aviation Authority Network, released a five-nation roadmap to streamline certification of (AAM) aircraft, with Joby actively involved in its development to facilitate global market entry. In the , Joby advanced its presence with a September 2025 memorandum of understanding alongside the Ras Al Khaimah Transport Authority (RAKTA) and vertiport developer Skyports, aiming to launch an service in by 2027. The initiative includes vertiport construction and begins with an inter-emirate route connecting to , addressing demand for efficient regional travel. On November 9, 2025, Joby completed the UAE's first piloted point-to-point flight from Margham to , in partnership with Dubai's Road and Transport Authority and Skyports, with plans for vertiports at , Atlantis the Royal, and American University of Dubai, targeting commercial launch in 2026. Similarly, in , Joby and Holdings progressed toward a national ecosystem following a public flight demonstration of Joby's at in on September 30, 2025, with a phased rollout set to commence in thereafter. This effort incorporates vertiports, pilot training, and maintenance support tailored to Japan's urban mobility needs. On November 12, 2025, Joby signed a with Saudi Arabia's General Authority of Civil Aviation to deploy electric services, aligning with FAA certification standards, and partnered with to explore delivery of up to 200 aircraft valued at approximately $1 billion, supporting Saudi Vision 2030. Domestically, Joby committed to the U.S. Integration Pilot Program in September 2025, enabling early commercial operations in select cities through streamlined federal coordination. These global initiatives are projected to generate Joby's first commercial revenues in 2026, driven by aircraft deliveries and service contracts across these markets.

Regulatory Progress and Future Plans

Certification Milestones

Joby Aviation initiated the formal stages of its FAA type certification process in 2022, following the establishment of a special class airworthiness criteria for its Model JAS4-1 powered-lift aircraft. This process encompasses multiple phases, including design compliance, testing, and Type Inspection Authorization (TIA), aimed at validating the aircraft's and for commercial operations. By mid-2025, the company had advanced significantly through Stage 4, with over 70% completion on its portion and more than 50% on the FAA's side. In August 2025, Joby completed the final assembly of its first FAA-conforming aircraft at its facility, marking a pivotal step toward TIA flight testing. Later that month, on August 15, the company achieved a key milestone with the first piloted flight between two public airports, covering 10 nautical miles from Marina Municipal Airport to in 12 minutes while integrating into FAA-controlled airspace. Advancing further, Joby began power-on testing of this FAA-conforming prototype on November 5, 2025, initiating hardware and software integration checks in preparation for piloted flights later in the year and FAA pilot evaluations in 2026. Throughout 2025, Joby conducted over 600 flights and thousands of ground-based tests to generate data, supporting compliance demonstrations across structural, , and systems . These efforts included static load testing of critical components like the tail structure, contributing to the maturation of flight operations under FAA oversight. On the international front, Joby has aligned its certification efforts with the (EASA) through ongoing engagement and technology familiarization sessions, aiming for harmonized standards to facilitate European market entry. In November 2025, Joby signed a with Saudi Arabia's (GACA), which agreed to accept FAA certification standards as a foundation for Joby's operations in the region. Similarly, the company is pursuing compatibility with China's (CAAC) requirements, amid broader industry concerns over regulatory acceleration in the region. In the UK, Joby deepened its regulatory ties with the (CAA) via a March 2025 partnership with , which supports type certification applications and plans for zero-emission services from major hubs like Heathrow and . Key challenges in Joby's certification pathway include mitigating operational noise to meet urban acceptance thresholds, as demonstrated by acoustic modeling showing the eVTOL blending into background soundscapes at vertiports. Airspace integration requires seamless coordination with existing traffic management systems, addressed through initiatives like the FAA's Electric Powered Integration Pathway. Additionally, developing standardized pilot training protocols remains essential to ensure safety in high-density operations, with Joby incorporating redundancy and human factors into its FAA-approved programs.

Commercial Air Taxi Service

Joby Aviation's commercial service is designed as an on-demand solution, offering electric vertical takeoff and landing () flights for short-haul routes in congested cities. The service will enable passengers to book rides via a , similar to ride-hailing platforms, with initial integration into the app for seamless reservations of electric trips. Pricing is projected at approximately $3 per passenger mile, positioning it as a premium yet accessible alternative to ground transportation like Black, with fares expected to decrease over time through . The U.S. launch is targeted for 2026, beginning in major metropolitan areas such as and , where the service will connect urban centers with airports and dedicated vertiports to facilitate efficient transfers. These initial routes aim to address common urban travel challenges, such as bypassing highway traffic for quicker airport access, with flights integrating into existing infrastructure for smooth operations. Expansion to additional U.S. cities and international markets, including a planned 2026 commercial launch in , will follow, building on partnerships for ground-to-air connectivity. On , 2025, Joby completed its first crewed flight between sites in the UAE as part of preparations. Operationally, the service will support average trip lengths of up to 100 miles on a single charge, covering the majority of typical demands while achieving speeds of around 200 miles per hour for reduced travel times. Boarding and turnaround processes are optimized for efficiency, enabling rapid passenger loading and minimal ground time to maximize flight frequency. As fully , the flights will produce zero direct emissions, contributing to sustainable urban transport by lowering noise and environmental impact compared to traditional helicopters. Joby anticipates scaling to a fleet exceeding 500 aircraft by 2030, driven by high aircraft utilization rates of multiple daily flights to achieve profitability through volume and operational efficiency. This growth will support widespread service availability, with revenue projections tied to frequent urban routes. However, the rollout faces risks, including the need for extensive vertiport and charging , as well as building acceptance through education on and benefits.

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