- Joby signs definitive agreement with
government of Dubai
- Agreement grants Joby exclusive right to
operate air taxis in Dubai for six years
- Service set to launch by early 2026
- Agreement covers regulatory approach for early
operations and includes support for entry and maturing of
service
- Joby also signed agreement with Skyports who
will build and operate four vertiports in Dubai
Joby Aviation, Inc. (NYSE:JOBY), a company developing
all-electric aircraft for commercial passenger service, today
announced it has signed a definitive agreement with Dubai’s Road
and Transport Authority (RTA) to launch air taxi services in the
Emirate by early 2026, with Joby targeting initial operations as
early as 2025.
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the full release here:
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Joby’s electric air taxi on display at
the World Governments Summit in Dubai. Joby Aviation photo
The agreement, signed at the World Governments Summit in Dubai
in the presence of His Highness Sheikh Mohammed bin Rashid Al
Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai,
provides Joby with the exclusive right to operate air taxis in
Dubai for six years, and will position Dubai as a world leader in
delivering the fast, clean and quiet air travel enabled by Joby’s
revolutionary technology. The agreement secures a variety of
support from the RTA, including financial mechanisms, for entry and
maturing of service operations in Dubai.
JoeBen Bevirt, founder and CEO, Joby Aviation, said: “It is an
honor to partner with the government of Dubai to demonstrate the
value of sustainable air travel to the world.
“Today’s landmark agreement delivers on all three ingredients
required to successfully launch an air taxi service - a definitive
path to operations, well-placed infrastructure supported by
dedicated partners, and an aircraft with the capacity and range to
deliver meaningful journeys.
“We’re looking forward to delivering an incredible experience
for residents and visitors to Dubai as early as 2025 and we’re
excited to be laying the groundwork for the expansion of our
service across the wider UAE.”
His Excellency Mattar Al Tayer, Director-General, Chairman of
the Board of Executive Directors for RTA, commented on the
agreement, saying, “the air taxi service is part of RTA’s efforts
to embrace future transportation technologies and offers a novel
and efficient mobility option for Dubai's residents and visitors,
enabling fast, safe, and convenient travel to key city spots. This
service will also enhance seamless multimodal transportation,
improving citywide connectivity, and ensuring a smooth travel
experience for passengers.”
Joby additionally signed an agreement with Skyports, who will
design, build and operate four initial vertiport sites across
Dubai. RTA, Skyports and Joby have worked together to identify
Dubai International Airport (DXB), Palm Jumeirah, Dubai Marina and
Dubai Downtown as the launch locations for Dubai’s air taxi
service.
Joby’s aircraft, which was displayed in the region for the first
time at the World Governments Summit, is designed to carry a pilot
and four passengers at speeds of up to 200 miles per hour and will
be operated by the Company, with a journey from Dubai International
Airport to Palm Jumeirah expected to take just 10 minutes compared
with 45 minutes by car.
Joby and the RTA have been working closely with the General
Civil Aviation Authority (GCAA) of the UAE to ensure there is a
regulatory route to support His Highness Sheikh Mohammed’s vision
of being a world leader in the introduction of air taxis. The GCAA
regulatory framework builds upon FAA standards with additional
company testing and analysis alongside a high level of regulator
oversight and an ongoing operational review process to ensure
continued safety for early operations.
RTA, Joby and Skyports will now work on a wide range of topics,
from customer journey design to stakeholder engagement and the
integration of Joby’s service into the wider public transport
network in Dubai. To support the development of its operations in
Dubai, Joby has established a local operating entity and intends to
recruit locally for the majority of its operational team. The
company will also consider localization of other global business
activities in Dubai and across the region. Joby recently announced
it will participate in the Smart and Autonomous Vehicle Industry
(SAVI) cluster established by the Abu Dhabi Investment Office
(ADIO), as part of exploring broader operations across the UAE.
In November 2023, Joby’s aircraft became the first electric air
taxi to fly in New York City, building on a number of recent
successes including the launch of production at the Company’s
initial manufacturing facility in California in June 2023 and the
first ever delivery of an electric air taxi to the U.S. Department
of Defense in September 2023. Joby is listed on the New York Stock
Exchange and has raised more than $2 billion of funding to date,
including investments from Toyota, Delta Air Lines, SK Telecom,
Uber and Baillie Gifford.
Media assets, including photos and footage of Joby’s aircraft,
animations of anticipated Dubai air taxi routes and renders of
Dubai skyport designs, are available here.
About Joby
Joby Aviation, Inc. (NYSE:JOBY) is a California-based
transportation company developing an all-electric, vertical
take-off and landing air taxi 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.
Forward Looking Statements
This release contains “forward-looking statements” within the
meaning of the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995, including but not limited to,
statements regarding the development and performance of our
aircraft, our regulatory outlook, progress and timing; our planned
operations in Dubai, including our expectation to start commercial
passenger service in Dubai as early as 2025, the number and
potential location of vertiport sites and our path to certification
in the UAE; our business plan, objectives, goals and market
opportunity; plans for, and potential benefits of, our strategic
partnerships, including financial support, exclusivity and other
expected benefits from our agreement with Dubai’s Road and
Transport Authority; and our current expectations relating to our
business, financial condition, results of operations, prospects,
capital needs and growth of our operations. You can identify
forward-looking statements by the fact that they do not relate
strictly to historical or current facts. These statements may
include words such as “anticipate”, “estimate”, “expect”,
“project”, “plan”, “intend”, “believe”, “may”, “will”, “should”,
“can have”, “likely” and other words and terms of similar meaning
in connection with any discussion of the timing or nature of future
operating or financial performance or other events. All forward
looking statements are subject to risks and uncertainties that may
cause actual results to differ materially, including: our ability
to launch our aerial ridesharing service and the growth of the
urban air mobility market generally; our ability to produce
aircraft that meet our performance expectations in the volumes and
on the timelines that we project, and our ability to launch our
service; complexities related to obtaining certification and
operating in foreign markets; the competitive environment in which
we operate; our future capital needs; our ability to adequately
protect and enforce our intellectual property rights; our ability
to effectively respond to evolving regulations and standards
relating to our aircraft; our reliance on third-party suppliers and
service partners; uncertainties related to our estimates of the
size of the market for our service and future revenue
opportunities; and other important factors discussed in the section
titled “Risk Factors” in our Annual Report on Form 10-K, filed with
the Securities and Exchange Commission (the “SEC”) on March 1,
2023, and in future filings and other reports we file with or
furnish to the SEC. Any such forward-looking statements represent
management’s estimates and beliefs as of the date of this release.
While we may elect to update such forward-looking statements at
some point in the future, we disclaim any obligation to do so, even
if subsequent events cause our views to change.
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Investors: investors@jobyaviation.com
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