Joby Aviation, Inc. (JOBY)

Joby Aviation, Inc. is a vertically integrated aerospace company developing a piloted, all-electric vertical take-off and landing (eVTOL) aircraft designed for aerial ridesharing services in cities worldwide. The aircraft is engineered to carry a pilot and up to four passengers, or a payload of up to 1,000 pounds, at speeds up to 200 mph with a range of up to 100 miles, offering a quiet, low-emission alternative to ground transportation and helicopters. The company plans to generate revenue through three primary channels: operating its own air taxi service, partnering with local affiliates to operate services internationally, and direct aircraft sales, including to defense markets.

Joby is pursuing FAA type certification under the "powered lift" category, having received a stage 4 G-1 certification basis, and is simultaneously engaging regulators in the UK, Japan, South Korea, Australia, Saudi Arabia, and the UAE to support global commercialization; it has also secured Part 135 air carrier, Part 145 repair station, and Part 141 flight school certifications. The company operates manufacturing and testing facilities in San Carlos and Marina, California, and is establishing high-rate production capacity in Dayton, Ohio, supported by state incentives. In August 2025, Joby acquired Blade Urban Air Mobility, Inc., gaining an established air charter brokerage platform, customer base, and infrastructure in New York City and Southern Europe to support its go-to-market strategy.

Joby has formed strategic partnerships with Toyota (its largest investor, with nearly $650 million invested and a long-term supply agreement for powertrain components), Uber (integrating Joby's service into the Uber app and leveraging Uber Elevate's software tools), and Delta Air Lines (a collaboration for airport transportation services with an equity investment). The company also maintains longstanding relationships with the U.S. Air Force and Department of Defense, having delivered eVTOL aircraft under contract and demonstrated autonomous flight technology through its Superpilot program, and is collaborating with L3Harris on defense applications. Additional international agreements include a memorandum of understanding with Abdul Latif Jameel for up to 200 aircraft valued at approximately $1 billion in Saudi Arabia, a letter of intent for aircraft sales in Kazakhstan, and an exclusive six-year agreement with Dubai's Road and Transport Authority to launch air taxi services in the Emirate.

Joby has invested heavily in proprietary technology, holding over 330 issued or allowed patents and more than 250 pending patent applications related to eVTOL vehicle technology and urban air mobility systems, and has developed its own charging infrastructure (GEACS) and software platform (Elevate OS) to support aircraft operations and maintenance. The company targets carrying its first passengers in 2026 and continues to invest in adjacent technologies, including hydrogen-electric propulsion through its H2FLY subsidiary and autonomous flight capabilities derived from its acquisition of Xwing's autonomy division assets.