24 February 2021
Company has spent more than a decade developing piloted, all-electric, vertical takeoff and landing passenger aircraft, with over 1,000 test flights conducted to date
Intends to operate clean, quiet and affordable air taxi service starting in 2024
First company to agree certification basis for an eVTOL aircraft with FAA
First company to be granted airworthiness approval for an eVTOL aircraft by U.S. Air Force
Company has strategic partnership with Toyota for production and recently acquired Uber Elevate
Transaction values combined company at $6.6 billion post-money equity value, and is expected to provide approximately $1.6 billion in gross proceeds
Includes $910 million of fully committed funding (inclusive of an $835 million fully committed PIPE) anchored by strategic partners and institutional investors including Uber Technologies, Inc., The Baupost Group, funds and accounts managed by BlackRock, Fidelity Management & Research LLC and Baillie Gifford
Toyota is working with Joby to design a California manufacturing facility for its four-passenger eVTOL aircraft, and is sharing access to its supplier network, Joby executives said.
Joby Aviation unveiled its all-electric, vertical take-off and landing aircraft, announcing its journey to making its air taxi service a reality. Over the
SPACs Give Life to Air Taxis
Posted on 02/24/2021
What could go wrong with zero-revenue air taxi companies? Founded in 2009, Joby Aviation is a California headquartered transportation company developing an all-electric vertical takeoff and landing aircraft which it intends to operate as a fast, quiet, and affordable air taxi service beginning in 2024. Joby Aviation intends to operate as a commercial passenger aircraft beginning in 2024. Joby Aviation has entered into a definitive business combination agreement with Reinvent Technology Partners (NYSE:RTP), a special purpose acquisition company that takes a “venture capital at scale” approach to partnering with bold leaders and companies. Upon the closing of the transaction, the combined company will be named Joby Aviation, and become publicly traded, with its common stock expected to be listed on the New York Stock Exchange.