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Joby Aviation stocks rise on vertiport alliance in Japan

EditorAmbhini Aishwarya
Published 12/08/2023, 06:49 AM
Updated 12/08/2023, 06:49 AM
© Reuters.

Shares of Joby Aviation (NYSE:JOBY) climbed today following the announcement of a strategic partnership with ANA Holdings and Nomura Real Estate (NRE) to develop vertiport infrastructure in Japan. This collaboration is set to bolster Joby's plans for launching an air taxi service in urban areas of Japan, including Tokyo.

The companies, which began their partnership in 2022, are focusing on the Tokyo Bay eSG project. This initiative is notable for its innovative floating landing port concept, which is expected to be a key feature of the urban air mobility landscape. As part of the Public-Private Conference for Future Air Mobility Revolution, Joby Aviation, ANA Holdings, and NRE are advocating for the adoption of aerial ridesharing services.

Joby's electric vertical takeoff and landing (eVTOL) aircraft are central to this vision. The aircraft boast high-speed travel capabilities of up to 200 mph, reduced noise levels, and zero emissions. The company made headlines with its inaugural zero-emission flight in New York and is working toward Federal Aviation Administration (FAA) type certification validation through Japan's Civil Aviation Bureau (JCAB). With these steps in motion, Joby is targeting the launch of commercial flights by 2025.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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