Latest news with #Joby


CNBC
35 minutes ago
- Business
- CNBC
Cramer's Lightning Round: 'I can't recommend' Titan International
Titan International: "It just went up so huge, I can't go for it...I can't recommend it after this big move." Leonardo DRS: "I don't know Leonardo DRS...I've got to do more work." Joby Aviation: "Archer and Joby. What can I say? I'm not going to fight them." Click here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest


Indian Express
8 hours ago
- Business
- Indian Express
Dubai eyes air taxi launch in 2026 after successful test flight
Dubai could soon transform daily commuting with the introduction of air taxis. California-based Joby Aviation successfully conducted the first test flight of its fully-electric aerial taxi in the emirate this week. The demonstration marks a critical step in Dubai's plan to integrate electric vertical takeoff and landing (eVTOL) aircraft into the city's mobility network by 2026. Joby Aviation aims to help ease the burden on Dubai's increasingly congested roads by offering a faster, eco-friendly alternative for short-distance travel. 'We want to change the way people commute,' Reuters quoted Anthony Khoury, Joby's UAE General Manager, as saying. According to the company, a trip from Dubai International Airport (DXB) to Palm Jumeirah using its aerial taxi will take just 12 minutes—compared to approximately 45 minutes by car. The future of cleaner, quieter urban travel just landed in Dubai. Today marks a significant milestone on our path to commercialization: we successfully completed a series of piloted, full-transition, electric vertical-takeoff-and-landing flights in — Joby Aviation (@jobyaviation) June 30, 2025 Earlier in 2024, Joby signed an exclusive six-year contract with Dubai's Roads and Transit Authority (RTA) to operate aerial taxis in the emirate. The commercial rollout, expected in 2026, will initially connect four vertiport hubs—Dubai International Airport, Palm Jumeirah, Dubai Downtown, and Dubai Marina. While affordability remains a long-term goal, Khoury acknowledged that the initial pricing structure may cater more to high-income travelers. 'As with any novel technology, early days might be a bit more premium,' he said. The test flight was held on Monday at a remote desert site southeast of Dubai's downtown. Designed to simulate a typical passenger route, the electric aircraft executed a vertical takeoff, flew several miles, and returned with a vertical landing. The event was attended by senior government officials, transport executives, and Joby Aviation representatives. The Joby Aerial Taxi is capable of flying up to 160 km at speeds reaching 320 kmph. With zero operating emissions, the fully-electric eVTOL is designed for minimal noise, making it ideal for urban use. 'It will be flying in the city, next to residential areas, and hopefully people will barely notice it,' Khoury noted. Despite the progress, the eVTOL industry still faces challenges such as regulatory approvals and infrastructure development, particularly the construction of vertiports. In April, Morgan Stanley downgraded Joby's stock price target from $10 to $7 due to execution risks and industry-wide concerns like supply-chain disruptions and tariffs. Joby shares currently trade at $10.55, according to Reuters.
Yahoo
10 hours ago
- Business
- Yahoo
Joby Aviation stock soars: Flying taxi company completes first successful test flights in Dubai; launch set for 2026
Dubai just took one step closer to its goal of launching electric air taxis in early 2026. No tax on tips or overtime, with a catch: What to know as Trump's 'big, beautiful bill' passes the Senate The housing market is shifting—here's where it's happening most rapidly Social Security July update: Here's why checks could be smaller for millions of Americans U.S.-based Joby Aviation, a company that is developing electric air taxis for commercial use, announced Monday that it successfully completed a series of piloted flights in Dubai, a first for the region's eVTOL aircraft sector. (eVTOL stands for electric vertical takeoff and landing.) Joby's all-electric air taxi is designed to carry a pilot and four passengers at speeds of up to 200 miles per hour, with minimal noise and zero operating emissions, for faster and quieter commutes. The company aims to revolutionize travel in Dubai while reducing traffic congestion. Shares in Joby Aviation (NYSE: JOBY) were trading up over 15% in midday trading on Monday. 'The United Arab Emirates is a launchpad for a global revolution in how we move,' Joby founder and CEO JoeBen Bevirt told Fast Company in an email. 'Our flights and operational footprint in Dubai are a monumental step toward weaving air taxi services into the fabric of daily life worldwide.' According to Bevirt, the goal is for air taxis to become a 'new normal' in Dubai. Joby plans to launch service between Dubai International Airport (DXB) and Palm Jumeirah, Dubai Marina, and downtown Dubai, with construction already underway. The short flights are expected to significantly cut down travel time. For example, instead of a 45-minute car ride, a trip from the DXB airport to Palm Jumeirah is expected to take just 12 minutes. A landmark 2024 agreement with Dubai's Roads and Transport Authority (RTA) granted Joby exclusive rights to operate air taxis in Dubai for six years. The company is also working with the Dubai Civil Aviation Authority (DCAA) and the United Arab Emirates' General Civil Aviation Authority (GCAA) on the project. In a post on X, Dubai's Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said the initiative 'is part of the UAE's broader vision to lead the world in innovation and the deployment of advanced technologies.' Joby Aviation's first-quarter earnings for 2025, which ended March 31, were mixed, with the company posting earnings per share (EPS) of -$0.11, beating expectations of -$0.19. The company had a market capitalization of $9.05 billion at the time of this writing. On its earnings call, Joby said it was on track to launch its commercial service in Dubai by early 2026, and is continuing to work toward Federal Aviation Administration (FAA) certification in the United States while expanding its manufacturing facilities in California and Ohio to support future growth. In May, Joby's shares jumped about 29% after the company announced it received $250 million from Toyota, as part of its October 2024 deal for the carmaker to invest $500 million to support certification and commercial production of its electric air taxis. This post originally appeared at to get the Fast Company newsletter: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Arab Times
14 hours ago
- Business
- Arab Times
Electric air taxis set to transform commuting in Dubai by 2026
DUBAI, UAE, July 2: Dubai commuters may soon have a new way to bypass traffic jams: electric air taxis. This week, Joby Aviation successfully completed the first test flight of its fully electric air taxi in Dubai, marking a significant step forward in the city's plan to integrate aerial transport into its existing mobility network as early as next year. Joby aims to reduce pressure on Dubai's ground transport system by providing faster travel options amid rising congestion. 'We want to change the way people commute,' said Anthony Khoury, Joby's UAE General Manager. A flight from Dubai International Airport (DXB) to Palm Jumeirah aboard the Joby Aerial Taxi is expected to take about twelve minutes, compared to approximately 45 minutes by car. While Joby's ultimate goal is to make air taxis affordable for everyone, Khoury acknowledged that early services may be priced for higher-income travelers. 'As with any new technology, the early days might be a bit more premium,' he said. The demonstration flight took place Monday at a remote desert location southeast of downtown Dubai, simulating a typical air taxi journey. The aircraft performed a vertical takeoff, flew several miles, and returned for a vertical landing. The event was attended by senior government officials, transportation executives, and company representatives. The Joby Aerial Taxi is a flagship electric vertical take-off and landing (eVTOL) aircraft developed by the California-based company. It can travel up to 160 kilometers (100 miles) at speeds of up to 320 km/h (200 mph). Fully electric and producing zero emissions, Joby's air taxi is designed to be eco-friendly and quiet enough for urban operation. 'It will be flying in the city, near residential areas, and hopefully people will barely notice it,' Khoury said. Despite the excitement surrounding eVTOL technology as the future of urban air transport, the industry faces challenges, including obtaining regulatory approvals and developing adequate vertiport infrastructure. Morgan Stanley recently downgraded Joby's stock price target from $10 to $7, citing near-term execution risks and broader aerospace industry concerns like tariffs and supply chain issues. Joby's stock currently trades at $10.55. In early 2024, Joby secured an exclusive six-year contract with Dubai's Roads and Transport Authority to operate aerial taxis in the city. The company plans to launch commercial air taxi services in Dubai in 2026, initially operating from four vertiports located at Dubai International Airport, Palm Jumeirah, Dubai Downtown, and Dubai Marina. 'In aviation, transformations like this are rare,' said Didier Papadopoulos, Joby's President of Original Equipment Manufacturing. 'Every so often, there is a leap into the future. What you're witnessing here is truly exciting, and I look forward to seeing people riding this in the near future.'
Yahoo
a day ago
- Business
- Yahoo
Joby Aviation Soars on Dubai Test Success
Joby Aviation (NYSE:JOBY) jumps over 10% after completing piloted eVTOL test flights in Dubai and locking in six-year exclusive air taxi rights. The stock closed at $10.55 and added 1.4% in premarket trading as investors cheered the milestone ahead of commercial service. The California-based company delivered its first aircraft to the UAE and ran vertical takeoffs, wingborne transitions and landings under the watch of Dubai's Roads and Transport Authority. Warning! GuruFocus has detected 4 Warning Signs with JOBY. Construction is already under way on Joby's first commercial vertiport at Dubai International Airport, paving the way for a 2026 launch linking Palm Jumeirah, Dubai Marina and Downtown. Joby's five-seat aircraft, which carries a pilot plus four passengers at up to 200 mph and a 100-mile range, underscores its capital efficiency: the company has raised over $2 billion from backers including Toyota (NYSE:TM) and Delta Air Lines (NYSE:DAL). Its three-part modeldirect operations, aircraft sales and city partnershipsaims to diversify revenue as it scales. Why It Matters: Securing exclusive Dubai rights and nailing real-world flights bolster Joby's lead in the hotly contested air taxi race and de-risk its path to commercialization. Investors will watch progress toward FAA certification in the U.S., updates on vertiport build-outs and 2026 launch plans for fresh execution cues. This article first appeared on GuruFocus.