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Joby Flies Two Aircraft Simultaneously in Testing Milestone

1. Joby successfully flew two aircraft simultaneously, marking a testing milestone. 2. The achievement demonstrates Joby's maturity in flight testing and innovation. 3. Joby expects to launch air taxi services in major US cities soon. 4. International partnerships with Virgin Atlantic and ANA will expand Joby's reach. 5. Joby celebrates a second consecutive quarter of progress toward FAA certification.

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Why Bullish?

Joby's successful tests indicate strong progress, potentially enhancing investor confidence. Historical examples show that milestones in aviation lead to stock price increases.

How important is it?

The article highlights significant developments in Joby’s testing and operational strategy, indicating positive advancements crucial for market valuation.

Why Short Term?

Immediate milestones can drive stock movement quickly as market responds to news. The upcoming passenger service launch adds to this short-term impact.

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SANTA CRUZ, Calif.--(BUSINESS WIRE)--Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today announced it has successfully flown two of its aircraft simultaneously for the first time, marking another important milestone in the Company’s flight testing program. The two-aircraft flight, completed in Marina, CA, on May 9, is a further demonstration of the maturity of Joby’s test program, and comes just two weeks after the Company announced it had reached another testing landmark, successfully completing flights with a full transition from vertical to cruise flight, and back again, with a pilot onboard. Commenting on the milestone, JoeBen Bevirt, founder and CEO, said: “This achievement not only demonstrates Joby’s leadership in the sector, it’s another indication of the power of American innovation. “Our air taxi is designed, manufactured and assembled here in the US, and we are a proudly American company, employing engineers and other experts across 40 different US states. “With six aircraft in our test fleet, flying multiple aircraft at a time will play an important role in accelerating our certification testing and supporting our plans to carry our first passengers next year.” Joby has partnered with Delta Air Lines and Uber to bring its service to the US and expects Los Angeles and New York City to be launch markets. Service is planned to start shortly after Joby receives type certification from the Federal Aviation Administration. Outside the US, Joby recently announced a partnership with Virgin Atlantic to bring its service to the UK and has partnered with ANA Holdings Inc., Japan’s largest airline, to bring its service to Japan. Joby’s Q1 2025 Shareholder Letter, published last week, celebrated a second consecutive quarter of record progress toward certifying its aircraft with the FAA and reiterated plans to start passenger operations in Dubai in early 2026. Joby has completed more than 40,000 miles of test flights across multiple aircraft, including demonstration flights in New York City, Japan, and Korea. The sixth aircraft to join Joby’s flight test program is currently undergoing final functional checks, having been powered on for the first time last month. Two aircraft are positioned at Edwards Air Force Base where they are completing testing in conjunction with the Company’s defense customers. Hi-resolution photos and video footage of the two aircraft in flight 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, the growth of our manufacturing capabilities, our regulatory outlook, progress and timing, and expected manufacturing and flight test capabilities and timing; plans and timing related to certification and operation of our aircraft; our business plan, objectives, goals and market opportunity; plans for, and potential benefits of, our strategic partnerships; 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 air taxi 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; complexities related to obtaining certification and operating in foreign markets, including the need to negotiate additional definitive agreements related to such operations; 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 February 27, 2025, our Quarterly Report on Form 10-Q, filed with the SEC on May 7, 2025, 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 shareholder letter. 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. More News From Joby Aviation, Inc.

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