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Joby progresses to next phase of aircraft flight test program.

SANTA CRUZ, Calif.--(BUSINESS WIRE)-- Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today announced it has successfully completed its pre-production flight test program and is now focused on the next phase of flight testing, during which the Company will use its production prototype aircraft to prepare for upcoming for-credit flight testing.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240502064014/en/

Joby’s two pre-production prototype aircraft completed more than 1,500 flights, spanning a total distance of more than 33,000 miles, over the past four years. (Photo Credit: Joby Aviation)

Joby first began flying full-scale pre-production prototype aircraft more than four years ago, and the Company’s two pre-production aircraft subsequently completed more than 1,500 flights, spanning a total distance of over 33,000 miles, including more than 100 flights with a pilot onboard. The second pre-production aircraft also completed the first electric air taxi exhibition flights in New York City, when it flew from the Manhattan Downtown Heliport over the Hudson River in November 2023.

“Over the course of this test program, our team has shown the world how real electric air taxis are, with tens of thousands of miles flown using today’s battery technology,” said JoeBen Bevirt, Founder and CEO of Joby. “Our pre-production aircraft were the second full-scale generation of Joby’s design, and their performance met or exceeded our predictions throughout the program, successfully achieving our targets for maximum range, speed, and a revolutionary acoustic footprint.

“Successfully completing this rigorous test program has allowed us to proceed to ramp production with full confidence, the second of which rolled off the line at our production line in Marina, California, earlier this week. Learnings from the flight test program have been invaluable to our certification program and to the broader development of regulatory frameworks around electric VTOL aircraft, validating the performance, safety, and acoustics of our design while providing insight into daily operations and maintenance.”

In 2021, Joby demonstrated a flight of 154.6 statute miles on a single charge , including a vertical take-off and landing.

In 2022, Joby partnered with NASA to measure and confirm its aircraft’s revolutionary quiet acoustic footprint, which the Company believes will barely be heard in cruise flight against the ambient environment of cities. Joby also demonstrated speeds exceeding 200 miles per hour and flight at altitudes exceeding 10,000 feet above mean sea level.

In 2023, Joby expanded its flight test program to include flights with pilots on board the aircraft , as well as completing the first-ever exhibition flight of an electric air taxi in New York City . Joby also trained four U.S. Air Force pilots to become the first Air Force personnel to fly an eVTOL aircraft through a full flight profile, including the transition from vertical to wingborne flight, as sole pilot-in-command.

And in 2024, in partnership with the Federal Aviation Administration (“FAA”), Joby completed 31 pilot-on-board flights in two days , demonstrating the aircraft’s operational characteristics and precision landing capabilities.

James Denham, Joby Chief Test Pilot, and the first person to fly onboard Joby’s full-scale prototype aircraft, commented: “Over the past four years, we thoroughly tested and studied our aircraft in flight, from precision landing and outwash to human factors. We often flew multiple flights per day, demonstrating our ability to fly in a wide variety of weather and operational conditions. As a result, we have the most experienced and professional eVTOL flight test team in the world, and I’m proud to be a part of this program.”

Joby’s second pre-production prototype aircraft will be used for research-and-development on future aviation technologies.

Joby’s electric air taxi is designed to carry a pilot and four passengers at speeds of up to 200 mph, offering high-speed mobility with a fraction of the noise produced by helicopters and zero operating emissions.

Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi 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 press 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 February 27, 2024, 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 release. 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/20240502064014/en/

Joby Aviation Investors: [email protected]

Media: [email protected]

Source: Joby Aviation, Inc.

Released May 2, 2024

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Joby Aviation to Report Fourth Quarter and Full Year 2023 Financial Results

Joby Aviation, Inc. (NYSE:JOBY), a company developing all-electric aircraft for commercial passenger service, today announced that it expects to release its fourth quarter and full year 2023 financial results after market close on Wednesday, February 21, 2024, and to host a webcast at 5:00 pm ET the same day. The webcast will be publicly available in the Upcoming Events section of the company website, www.jobyaviation.com . If unable to attend the webcast, to listen by phone, please dial 1-877-407-9719 or 1-201-378-4906. A replay of the webcast will be available on the company website following the event.

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 press 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. 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 1, 2023, 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.

Investors: [email protected]

Media: [email protected]

View source version on businesswire.com: https://www.businesswire.com/news/home/20240207922548/en/

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Joby Aviation to Report Third Quarter 2023 Financial Results

SANTA CRUZ, Calif. --(BUSINESS WIRE)-- Joby Aviation, Inc. (NYSE:JOBY), a company developing all-electric aircraft for commercial passenger service, today announced that it expects to release its third quarter 2023 financial results after market close on Wednesday, November 1, 2023 , and to host a webcast at 5:00 pm ET the same day. The webcast will be publicly available in the Upcoming Events section of the company website, www.jobyaviation.com . If unable to attend the webcast, to listen by phone, please dial 1-877-407-9719 or 1-201-378-4906. A replay of the webcast will be available on the company website following the event.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231018137717/en/

(Graphic: Joby Aviation )

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 press 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. 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 1, 2023 , 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/20231018137717/en/

Investors: [email protected] Media: [email protected]

Source: Joby Aviation, Inc.

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Joby Aviation is going public, reveals its electric aircraft in flight for the first time

The company is the latest to go public via a reverse merger with a spac.

By Andrew J. Hawkins , transportation editor with 10+ years of experience who covers EVs, public transportation, and aviation. His work has appeared in The New York Daily News and City & State.

Share this story

Joby Aviation, the electric aviation company based in Northern California, is the latest futuristic mobility company to go public via a reverse merger with a special purpose acquisition company, or SPAC. To celebrate, the company is releasing the first footage of its electric aircraft in flight.

Joby, which is backed by Toyota and recently acquired Uber’s flying taxi division, is merging with Reinvent Technology Partners, a “blank check” company run by LinkedIn co-founder Reid Hoffman and Zynga founder Mark Pincus. The new company, which will have a post-money valuation of $6.6 billion, will be listed on the New York Stock Exchange.

As part of the deal, Joby will get $1.6 billion in cash, $690 million of which will come from Reinvent’s cash in trust and $835 million from private investors The Baupost Group, funds and accounts managed by BlackRock, Fidelity Management & Research LLC, and Baillie Gifford. Hoffman will join Joby’s board.

As part of the deal, Joby will get $1.6 billion in cash

Joby is the brainchild of inventor JoeBen Bevirt, who started the company in 2009 and operated it in relative obscurity. In 2018,  Joby announced  it had raised a surprising $100 million from a variety of investors, including the venture capital arms of Intel, Toyota, and JetBlue. The money helped finance the development of the company’s air taxi prototype, which has been conducting test flights at Joby’s private airfield in Northern California. Bevirt helps run an incubator outside of Santa Cruz that’s been described as a  quasi-commune .

The company closed on a  massive $590 million round of venture capital funding . Joby also announced that it was teaming up with previous investor Toyota to launch an air taxi service using its new aircraft.

Unlike the dozens of other companies that are currently building electric vertical take-off and landing (eVTOL) aircraft, Joby has kept much of its project under wraps. Today’s footage is the first time Joby’s vehicle has been seen in flight. The all-electric aircraft has six rotors and seats five, including the pilot.

The video shows it taking off vertically, like a helicopter, and then shifting into forward flight using tilt rotors. Joby says it can reach a top speed of 200 mph, travel 150 miles on a single charge, and is 100 times quieter than a conventional aircraft. The company says it aims to have a scaled-up air taxi service in operation by 2024.

According to the company’s investor presentation , Joby expects each aircraft to cost $1.3 million to manufacture, with the potential to reduce that amount by half in the future. Joby also projects that each aircraft will generate $2.2 million in revenue. It assumes that every aircraft will fly 7 hours a day and spend 12 hours in operations — or 2,300 hours a year and 4,500 hours in operation — with an average of 2.3 passengers per trip.

Joby expects each aircraft to cost $1.3 million to manufacture

( As noted by aviation writer Michael Travierso on Twitter , this represents an exponential increase over the number of hours the average Cessna aircraft at a busy aeroclub flies every year. Electric aircraft are expected to require less maintenance than their gas-powered equivalents.)

Of course, many companies — Joby included — have promised revolutionary new aircraft for years, only to miss deadlines or fail to live up to past promises. Kitty Hawk, the flying car venture backed by Google co-founder Larry Page, had to reorganize  amid reports  about breakdowns, battery fires, and returned deposits. Another startup, Zunum, is  locked in a bitter legal fight with its former investor, Boeing. And last year, Germany’s Lilium Jet had a prototype catch fire recently .

Joby isn’t the only eVTOL company to go public via SPAC. Archer Aviation, another electric flight company, plans on merging with blank-check company Atlas Crest Investment Corp, and it has said it would launch an air taxi service in Los Angeles by 2024 .

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Apr 23, 2024

Joby Aviation to Report First Quarter 2024 Financial Results

Santa Cruz, CA, Apr 23, 2024 — Joby Aviation, Inc. (NYSE:JOBY), a company developing all-electric aircraft for commercial passenger service, today announced that it expects to release its first quarter 2024 financial results after market close on Tuesday, May 7, 2024, and to host a webcast at 5:00 pm ET the same day. The webcast will be publicly available in the Upcoming Events section of the company website, www.jobyaviation.com . If unable to attend the webcast, to listen by phone, please dial 1-877-407-9719 or 1-201-378-4906. A replay of the webcast will be available on the company website following the event.

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 press 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. 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 February 27, 2024, 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. 

Investors: 

[email protected] 

[email protected]

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Joby expands california manufacturing facility, rolls second aircraft off production line.

● New facility will more than double Joby’s manufacturing footprint in California ● Expansion funded in part by $9.8 million California Competes grant ● Second production prototype aircraft has rolled off production line

SANTA CRUZ, Calif., April 29, 2024 --( BUSINESS WIRE )--Joby Aviation, Inc. (NYSE: JOBY), a company developing electric air taxis for commercial passenger service, today announced it has broken ground on the expansion of its Pilot Production Line in Marina, California. The expansion will more than double Joby’s manufacturing footprint at the Marina Municipal Airport and is expected to begin operations next year.

During a ceremony held today to celebrate the groundbreaking, Joby also showcased its second production prototype aircraft, which recently rolled off the Company’s pilot production line. The aircraft is expected to join Joby’s first production prototype aircraft at Edwards Air Force Base later this year. Two additional aircraft are in final assembly.

The expanded facility is designed to support a target production rate of 25 aircraft per year and will also house a range of key operations facilities, including an expanded pilot training and flight simulation center as well as aircraft maintenance facilities that are designed to support the scaling of Joby’s commercial operations.

"This facility will play a foundational role in our future success and it is a privilege to once again be growing our footprint and our workforce in California. I am grateful to the local community and our many supporters who have advocated on our behalf to reach this point and to Toyota for everything they continue to do to make manufacturing a success at Joby," said JoeBen Bevirt, Founder and CEO of Joby.

The expansion will be funded in part by the $9.8 million California Competes grant awarded to Joby by the Governor’s Office of Business and Economic Development (GO-Biz), in November 2023 , to support the Company’s continued statewide expansion.

Bruce Delgado, Mayor of Marina, commented: "Joby benefits all of our tri-county community. We’re pleased to see Joby continue to invest in expanding its presence at Marina Municipal Airport, providing high-tech jobs in clean manufacturing that benefit the local community."

"Joby’s continued success and growth in Monterey County shows the strength of well-executed public-private partnerships and that California continues to be a great place for companies to build the future," said Monterey County Supervisor Wendy Root-Askew. "We’re thrilled to see Joby break ground on an expansion to their electric air taxi factory in Marina and we look forward to future opportunities to partner for the benefit of our local economy."

The ceremony was attended by local and regional stakeholders representing the city of Marina, Monterey County, Monterey Bay DART, Monterey Bay Economic Partnership, Mujeres en Acción, and many other organizations that continue to be instrumental to Joby’s success, including Toyota Motor Corporation.

In addition to Joby’s Marina expansion, Joby recently announced the acquisition of an existing facility at Dayton International Airport, as part of the Company’s plans to develop scaled manufacturing facilities capable of producing up to 500 aircraft per year.

Joby’s electric air taxi is designed to carry a pilot and four passengers at speeds of up to 200 mph, offering high-speed mobility with a fraction of the noise produced by helicopters and zero operating emissions.

Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi 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 press 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, including planned production capacity and timing for our facilities in Marina, California and Dayton, Ohio, 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 February 27, 2024, 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 release. 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/20240429375114/en/

Joby Aviation Investors: [email protected]

Media: [email protected]

SANTA CRUZ, Calif.--( BUSINESS WIRE )--Joby Aviation, Inc. (NYSE:JOBY), a company developing all-electric aircraft for commercial passenger service, today announced that it expects to release its third quarter 2023 financial results after market close on Wednesday, November 1, 2023, and to host a webcast at 5:00 pm ET the same day. The webcast will be publicly available in the Upcoming Events section of the company website, www.jobyaviation.com . If unable to attend the webcast, to listen by phone, please dial 1-877-407-9719 or 1-201-378-4906. A replay of the webcast will be available on the company website following the event.

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 press 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. 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 1, 2023, 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.

Investors: [email protected] Media: [email protected]

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