On Wednesday, Joby Aviation (NYSE:JOBY), a company specializing in electric aircraft, revealed that it has obtained a Special Airworthiness Certificate for its inaugural aircraft manufactured at the Pilot Production Line in Marina, California. This certification, granted by the Federal Aviation Administration, authorizes Joby to begin flight testing of its first production prototype.
When the aircraft transitions to Edwards Air Force Base in 2024 as per Joby's Agility Prime contract with the U.S. Air Force, valued at up to $131 million, it is anticipated to become the very first eVTOL (electric vertical takeoff and landing) aircraft delivered to a customer. Joby has been actively operating full-size aircraft since 2017, and their pre-production prototype aircraft has amassed over 30,000 miles in flight since 2019. The current production prototype announced today further builds upon this wealth of experience, signifying a crucial milestone on the path towards FAA certification and large-scale production.
Commenting on Joby’s progress, JoeBen Bevirt, founder and CEO of Joby, said: “Today’s achievement is the culmination of years of investment in our processes and technology and it marks a major step on our journey to scaled production.”
“We’re proud to have launched production in our home state of California. I’m incredibly grateful to the Joby team for their commitment to ensuring Joby remains the clear leader in this new sector and to Toyota for sharing their knowledge and experience with us over many years. Their support has been indispensable in helping us reach this point.”
California Governor Gavin Newsom visited Joby's facilities on Sunday to meet with Joby team members and celebrate the Company’s progress.
“California is proud to be home to some of the world’s most innovative companies. Joby is changing the game when it comes to the next frontier of flight: zero emission aviation,” said Governor Gavin Newsom. “Our world-leading climate action relies on the technological advances and pioneering spirit of the private sector. Creating jobs and cutting pollution — that’s the California way.”
Toyota (NYSE:TM), having invested around $400 million in the Company, has played a key role in the design, production and assembly of Joby’s Pilot Production Line. Toyota CEO, Tetsuo “Ted” Ogawa will join more than 1,000 guests and team members at Joby’s Marina facility later today to celebrate the launch of production.
The aircraft will now undergo initial flight testing before being delivered to Edwards Air Force Base, California, where it will be used to demonstrate a range of potential logistics use cases.
Shares of JOBY are up 5.63% in pre-market trading on Wednesday.