Joby Aviation

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Passenger eVTOL Aircraft?
Product stageSegments
Minimum Viable Product
?
Fully electric
?

California-based Joby Aviation is focused on developing and commercializing eVTOL aircraft, designed to provide a safe, quiet, and environmentally friendly transportation option for urban areas. The company claims its eVTOL aircraft are designed to be 100x quieter and use 5x less energy than traditional helicopters and are capable of flying at speeds of up to 200 miles per hour and can travel up to 150 miles on a single charge. The company has also developed a charging infrastructure that enables its aircraft to be charged in less than an hour. Joby Aviation had plans to manufacture, own, and operate its own air taxi service beginning in 2024 with the Department of Defense followed by commercial passenger operations in 2025. As of May 2023, the company was developing a manufacturing facility in Marina, CA with offices and workshops in Santa Cruz, San Carlos, Washington, D.C., and Munich, Germany. In March 2024, the company acquired a manufacturing facility in Dayton, Ohio to begin the production of aircraft parts later in 2024. 

Joby Aviation has achieved significant milestones in developing its eVTOL aircraft, with more than 1,000 test flights, and in June 2023 , Joby received FAA permit to flight test electric air taxis. In December 2020 , Joby Aviation announced its plans to acquire Uber Elevate, with both parent companies agreeing to integrate their services into each other's apps, allowing seamless integration between ground and air travel for future customers. 

In July 2024, Joby completed its first test flight powered by a hydrogen-electric propulsion system, carrying 40 kg of liquid hydrogen and a lesser number of batteries than the standard eVTOL model. Later in July 2024, it displayed its four-passenger electric air taxi in Europe for the first time at the Farnborough International Airshow 2024. In September 2024, Joby submitted an application for certification of air taxi operations to UAE aviation authorities.

In November 2024, Joby completed its first international flight demonstration at the Toyota Technical Center in Japan, demonstrating its aircraft's low noise level compared to helicopters.

Key customers and partnerships

Joby Aviation has secured many partnerships, the most high profile being with NASA, beginning in 2012, when the company was selected to collaborate with NASA on several groundbreaking electric flight projects, including the X-57 and LEAPTech. The company also works closely with Toyota (Joby Aviation’s largest outside investor as of April 2023) on a regular basis, collaborating on a range of projects, including factory planning and layout, developing manufacturing processes, and designing products that are easy to manufacture. In addition, the company has established strong collaborations and relationships with Delta, Uber, and the US Government to help to de-risk its commercial strategy. In January 2024, Joby Aviation partnered with Clay Lacy Aviation to set up an electric air taxi charger at the John Wayne Airport (SNA) in Orange County, California. In April 2024 , The company has signed a Memorandum of Understanding (MoU) with the Department of Municipalities and Transport (DMT), the Department of Economic Development (DED), and the Department of Culture and Tourism (DCT) of Abu Dhabi to facilitate and scale air taxi services across Abu Dhabi.

HQ location:
340 Woodpecker Ridge Santa Cruz CA USA
Founded year:
2009
Employees:
1,001-5,000
IPO status:
Public
Total funding:
USD 2.7 bn
Last Funding:
USD 202.0 mn (Post IPO Equity; Oct 2024)
Last valuation:
USD 3.0 bn (Oct 2022)
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