Joby Aviation Reports Second Quarter 2023 Results
Image credit: Joby Aviation
Joby Aviation’s latest report highlights the significant strides the company has made in its production journey, the rollout and first flight of its production prototype aircraft, and much more. The company has submitted all of its certification plans to the FAA with two thirds of the plans already being accepted by the FAA. Finalization of the third stage was necessary in order for the company to take the next steps to acquire the FAA type certification needed to commence commercial passenger operations. The report includes a visual graphic depicting the company’s progress toward completing each of the stages with the FAA with 98% completion for stage 3, and 15% completion for stage 4. Additional points covered in the report include:
Joby’s aircraft has 2x the power of a Tesla Model S and is designed to be quiet and rely on only a single bearing.
Joby’s aircraft is set to be the first eVTOL to be handed over to a customer, as it will move to Edward Air Force Base in 2024 to be used by Joby as part of its Agility Prime contract with the U.S. Air Force, worth up to $131 million.
Strong financial foundation: At the end of the second quarter of 2023, Joby $1.2 billion in cash and short-term investments.
Governor Gavin Newsom visited Joby to celebrate their production launch.
SK Telecom made an equity investment of $100 million in Joby.
About 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.