Latest news with #JobyAviation
CNBC
3 hours 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
The National
7 hours ago
- Automotive
- The National
UAE's aviation authority announces framework for regulating electric air taxis
The UAE's General Civil Aviation Authority has announced a framework to regulate the use of electric and conventional helicopters in the Emirates. The rollout of the regulations will allow both electric vertical take-off and landing (eVTOL) aircraft and conventional helicopters to operate interchangeably on the same infrastructure, reported state news agency Wam. The announcement came as two test flights took place in the UAE in recent days. On Monday, California-based Joby Aviation, in partnership with Dubai's Roads and Transport Authority, carried out an electric air taxi test flight ahead of a planned launch of commercial operations next year. Archer Aviation completed the first test flight in Abu Dhabi of its air taxi on Wednesday. 'The UAE has always been at the forefront of excellence in aviation. This pioneering regulatory framework does not merely enable new technology; it redefines how aviation evolves,' said Saif Mohammed Al Suwaidi, director general of the GCAA. 'It reflects our commitment to innovation in developing a supportive ecosystem for the growth of this vital sector and a future where advanced air mobility is seamlessly integrated into our national infrastructure.' The newly announced regulations will allow for dual-use between conventional helicopter pads and electric vertical take-off and landing pads. The framework will enable the UAE to adopt a flexible regulatory environment that keeps pace with emerging technologies without compromising safety standards, said Aqeel Al Zarouni, assistant director general for aviation safety affairs at the GCAA. Taking flight Wednesday's test flight in Abu Dhabi took place at the capital's Al Bateen Executive Airport with the operation designed to put the aircraft through hot weather testing as anticipation builds for the eventual launch of commercial flights. The eVTOL aircraft − called Midnight − was unpiloted but it is expected that commercial flights, once approved, will be piloted. It is hoped that air taxis could bolster public transport options and ease congestion on the roads as Abu Dhabi's population continues to surge. The California-based air taxi company, which has completed tests in the US, said its vision is to replace 60 to 90-minute car journeys with 10 to 20-minute electric air taxi trips. Images showed the aircraft soaring over the city adjacent to the Sheikh Zayed Grand Mosque. During the flight, technicians tested its performance under extreme heat, humidity, dust and other conditions. 'What we've seen today is the first step towards launching electric air taxis in Abu Dhabi,' Talib Alhinai, general manager for Archer Aviation in the UAE, told The National, adding it was 'the first of many flights that we hope to do in this country'. 'We're very excited to test our aircraft in the hottest months of the year and, if we can show that we can be ready for these conditions, it means … we can operate anywhere, anytime.' Archer said Midnight can carry four passengers and a pilot, is fully electric, has a potential range of about 150km and can fly at speeds of up to 241kph. It can perform both vertical and conventional take-off and landing with Wednesday's test being a vertical take-off. The test flight supports Archer's partnership with Abu Dhabi Aviation, which aims to establish air taxi services in Abu Dhabi. The company is working with authorities to launch in Abu Dhabi – the first market in the world that Archer will launch in – and the aircraft will be going through the full approvals process by the UAE's aviation regulator General Civil Aviation Authority before any commercial services start. The launch of air taxis has been eagerly anticipated in the UAE for years. It comes as the population of Abu Dhabi continues to surge with major knock-on effects for public transport but much work remains such as developing the vertiport network. While Archer would not reveal a precise launch date for commercial services, Mr Alhinai said it was hoped they could share that 'in the next several months'. Mr Alhinai also said they were careful about revealing how much taking an air taxi would cost but they were working on price tiers similar to 'upper tier' of ride share services. 'We're a bit careful in terms of determining what that final cost would be because there's just still some final information that we're finalising on what the locations would be and where we would be flying from,' he said, adding that the service was aimed at the general public. It was previously reported prices would be about Dh300 to Dh350 for inner-city travel. Archer had already announced the first 'heliport' would be located in the Mina Zayed Cruise terminal with the existing helipad being converted to dual use by the end of 2025. The Mina Zayed location is close to key sites such as the port, Louvre Abu Dhabi and Saadiyat Island. He said it was finalising 'very exciting' other sites. When launched, it is envisaged that people can book a ride through a smartphone app in the same way one would hire a taxi today. Abu Dhabi Investment Office is working with the company on the project. 'This flight marks a significant step towards realising Abu Dhabi's ambition to lead the world in advanced urban air mobility,' said Badr Al Olama, director general of the office. Omran Malek, head of smart autonomous vehicle industry at the office, told The National that Wednesday's test was a 'first step among many to come'. 'We are testing to commercialise,' said Mr Malek. 'In Abu Dhabi we're not just launching an air taxi service, we're launching an ecosystem. 'So from pilot training to maintenance, repair and operations to talent development and the manufacturing part,' he said. Mr Malek said if you looked at the sky above many cities it was 'empty' and 'we need to use and utilise that space above us'. He pointed to the fact Abu Dhabi has many islands – several are being developed – and air taxis could cut the length of travelling between them sharply. 'If you want to go from one island to another, you have to use a bridge but point to point it could take you five to 10 minutes.' Reiterating that integration of the planned air taxi network with other transport systems was crucial, he said they were thinking of how people get off Etihad Rail or use the bus stations and if transport across sea, air and land could be joined up it would be 'a jackpot'. The test follows a separate one on Monday in Dubai by Joby Aviation of its aerial taxi. Four vertiports are planned there as well as tests last month in Abu Dhabi from a different operator. Mr Malek said the efforts were all down to the 'ecosystem from the federal to the government agencies that have worked all together, all marching in the same direction'. 'This technology is coming from abroad but because of the regulatory agility we have, it's being deployed here,' he said. 'And we're considering also exporting this know-how around the region to deploy these systems.'
Indian Express
10 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.
Zawya
11 hours ago
- Business
- Zawya
Mideast Stocks: Gulf bourses end mixed on US tariff uncertainty
Stock markets in the Gulf ended mixed on Wednesday as investors monitored global trade developments ahead of the United States' potential re-imposition of sweeping tariffs on July 9. President Donald Trump said on Tuesday he was not thinking of extending the July 9 deadline for countries to negotiate trade deals with the U.S., and continued to express doubt that an agreement could be reached with Japan. Saudi Arabia's benchmark index edged 0.1% higher, after two consecutive sessions of losses, helped by 1.7% rise in Saudi Arabian Mining Company. The cautious mood dominating the region contributed to mixed sector performances, said Joseph Dahrieh, managing principal at Tickmill. "Investors are awaiting further developments to gain more clarity, while low oil prices continue to pose a risk, despite a positive economic outlook," he said. Among gainers, oil giant Saudi Aramco rose 0.8%. Oil futures edged up as Iran suspended cooperation with the U.N. nuclear watchdog and markets weighed expectations of more supply from major producers next month, while the U.S. dollar softened further. Dubai's main share index dropped 0.4%, hit by a 1.3% fall in toll operator Salik Company. Separately, Dubai commuters may soon have a new way to beat traffic, as Joby Aviation successfully completed the first test flight of its fully-electric air taxi in the emirate this week - a significant step toward the city's goal of integrating airborne transport into its mobility network as early as next year. In Abu Dhabi, the index eased 0.1%, while the Qatari index closed flat. A report on Tuesday suggested that the U.S. labour market stayed resilient in May, sharpening the focus on U.S. nonfarm payrolls figures due on Thursday as investors try to gauge when the Federal Reserve is likely to cut interest rates next. Fed Chair Jerome Powell on Tuesday reiterated the U.S. central bank's plans to "wait and learn more" before lowering rates. Outside the Gulf, Egypt's blue-chip index added 0.4%, with Talaat Moustafa Holding rising 0.9%. SAUDI ARABIA rose 0.1% to 11,130 Abu Dhabi fell 0.1% to 9,920 Dubai dropped 0.4% to 5,669 QATAR finished flat at 10,699 EGYPT added 0.4% to 32,820 BAHRAIN was up 0.3% to 1,950 OMAN added 0.3% to 4,525 KUWAIT declined 0.6% to 9,083 (Reporting by Ateeq Shariff in Bengaluru. Editing by Mark Potter)
Yahoo
11 hours ago
- Business
- Yahoo
Joby Aviation (JOBY) Skyrockets 11.76% on Air Taxi Take-Off
We recently published . Joby Aviation, Inc. (NYSE:JOBY) is one of last week's top performers. Joby Aviation jumped by 11.76 percent on Monday to finish at $10.55 apiece following the successful takeoff test of its air taxi in Dubai. In a statement, the Toyota-backed company said that it successfully completed a series of piloted, vertical-takeoff-and-landing wingborne flights in Dubai, marking the start of its commercial market readiness efforts in the region. According to Joby Aviation, Inc. (NYSE:JOBY) its aircraft is designed to transport a pilot and up to four passengers at speeds of up to 200 mph, with minimal noise and zero operating emissions. A futuristic electric vertical takeoff and landing aircraft soaring through the sky. Upon full operations, Joby Aviation, Inc. (NYSE:JOBY) aims to introduce its commercial service at Dubai International Airport (DXB), Palm Jumeirah, Dubai Marina, and Dubai Downtown, with a designated takeoff and landing area already underway. Travel time between Dubai airport and Palm Jumeirah is also expected to reduce to only 12 minutes from 45 minutes at present. While we acknowledge the potential of JOBY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
