Joby Aviation achieved record certification progress, expanded flight testing, delivered a second aircraft to the U.S. Air Force, and secured strong financial backing in its Fourth Quarter.
Joby continues scaling manufacturing and expanding its flight test program, having already delivered multiple eVTOL aircraft from its production line. Now having five aircraft in its flight test fleet including a hydrogen-hybrid aircraft, and recently delivering a second aircraft to its Department of Defense partners at Edwards Air Force Base.
By the end of Q4 2024, Joby held $933 million in cash, equivalents, and marketable securities. This excludes an expected $500 million Toyota investment, set to be delivered in two $250 million tranches. All regulatory approvals are now in place for the first tranche of this investment to be made.
2025 marks a turning point for Joby, as the company prepares to deliver an aircraft to Dubai by mid-year to demonstrate passenger readiness. Marking a significant milestone in the sector’s history.
Joby advanced to the fourth of five stages in certifying its aircraft for U.S. commercial passenger use, with expectations for Type Inspection Authorization (“TIA”) flight testing to begin in the next 12 months.
It was also reported by the company that Joby became the first to fly an electric air taxi as part of Korea’s K-UAM Grand Challenge.
JoeBen Bevirt, founder and CEO of Joby Aviation, commented, “The sector leading progress we made throughout 2024 puts Joby in a great position to capitalize on the opportunities presented by America’s renewed focus on innovation and manufacturing.
“As well as delivering record progress on certification, we scaled our manufacturing, delivered two aircraft to the Department of Defense and flew 561 miles with a hybrid, hydrogen-electric variant of our aircraft, bringing the flight test fleet to a total of five aircraft.
“The next 12 months mark a critical inflection point, not just for Joby, but for our entire industry, as we look ahead to carrying our first passengers, and I’m proud that Joby continues to lead the way towards this new era of flight.”
