JOBY Aviation (NYSE: JOBY) is a California-headquartered future mobility company developing and manufacturing an all-electric, vertical take-off and landing (eVTOL) aircraft which are intended to operate as a fast, clean, quiet and affordable air taxi service and commercial passenger transport beginning in 2024.
‘Reinventing possible’, the aircraft will be part of an on-demand commercial aviation service similar to today’s ground-based ridesharing solutions.
JOBY Aviation has spent over a decade developing and testing their zero-emissions aircraft capable of travelling more than 150 miles on a single charge, enabling a pilot and four passengers to leapfrog over congestion below at speeds of up to 200 mph. The company has a long term vision to build a global passenger service that saves a billion people an hour every day, whilst simultaneously helping to protect our precious planet.
The Jameel Family joined the US$ 820m Series C funding round lead by our long-term mobility partners, Toyota Motor Corporation in 2020 through the JIMCO Technology Fund.
JOBY is developing a world-class manufacturing facility in Marina, CA and has offices and workshops in Santa Cruz, California; San Carlos, California; Washington, DC, and Munich, Germany.
As well as strategic partnerships with Toyota and Uber, JOBY Aviation has a team of more than 700 engineers and experts working to bring aerial ridesharing to our skies.
In February 2021, JOBY Aviation announced a key milestone agreeing to a ‘G-1’ certification basis for its aircraft with the US Federal Aviation Administration. This agreement details the specific requirements to be met for JOBY’s aircraft to be certified for commercial operations.
And in June the same year, JOBY Aviation announced a partnership with REEF Technology and Neighborhood Property Group to develop takeoff and landing sites for its aerial ridesharing service. REEF is the USA’s largest parking garage operator focused on transforming these underutilized assets into multi-use mobility hubs. These include over 5,000 sites across North America and Europe and could reach some 70% of the American public.
JoeBen Bevirt is the Founder and Chief Executive Officer of JOBY Aviation and has led the team since its inception, more than a decade ago to its listing on the NYSE.
JIMCO Technology Fund recently caught-up with JoeBen for a fascinating insight into how their all-electric eVTOL aircraft is ‘reinventing possible’, to soon be part of an on-demand commercial aviation service similar to today’s ground-based ridesharing solutions.
Investments in JOBY Aviation are held in a separate dedicated investment vehicle for US-based investments.
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