Joby Aviation has reported its third quarter 2024 results which showed the next-generation aviation company completed a number of exhibition flights at Toyota’s Higashi-Fuji Technical Center in Japan, using the third production prototype aircraft which rolled off the production line less than three months before.
Joby reached a major landmark on its journey to type certification with the completion of the first FAA-conforming major sub-assembly, an aircraft tail. The fourth production prototype is nearing completion and will join the flight test program shortly.
The report states that important progress was made with regulators in each of Joby's targeted launch markets. In the U.S., they welcomed the publication of new operating regulations that lay the groundwork for the launch of commercial operations.
Another highlight for the company was an additional investment of $500 million in funding from long-term partner Toyota, which has been involved with Joby for seven years. Part of that deal is the plan to establish a manufacturing alliance.
The future is looking more positive for Joby, which can't always be said for other key players in developing similar all-electric, vertical take-off and landing air taxi-type aircraft.
