Latest news with #electricairtaxi
Globe and Mail
01-07-2025
- Business
- Globe and Mail
Does Joby Aviation's Milestone in Dubai Point Toward Further Growth?
Shares of Joby Aviation JOBY, a leading player in the electric vertical takeoff and landing (eVTOL) space, gained in double digits on June 30 following the announcement that its electric air taxi has completed a series of piloted, vertical-takeoff-and-landing wingborne flights in Dubai. The flights were conducted in partnership with Dubai's Roads and Transport Authority, the Dubai Civil Aviation Authority and the UAE's General Civil Aviation Authority. Given its focus on urban air mobility, JOBY's offerings are likely to include advanced booking systems, partnerships with ride-sharing platforms and dedicated service routes. The company plans to develop facilities capable of producing up to 500 eVTOL aircraft annually in Dayton. This strategic move underscores Joby Aviation's commitment to scaling up its production capacity and meeting the demand for electric air taxis. It also demonstrates the company's tangible progress toward commercializing its electric air taxis. With cities becoming more and more congested, the demand for more efficient and eco-friendly transportation solutions is on the rise. Even though similar to helicopters, eVTOLs score better as they are emission-free and quieter owing to their electric motors. Further, they possess the ability to navigate remote or difficult-to-access areas. This increases their value for search and rescue missions. The eVTOL market is reportedly projected to grow from $1.76 billion in 2024 to $24.1 billion by 2031, at a CAGR of 51.6% between 2023 and 2031. A Look at the Growth Drivers of Other eVTOL Stocks Archer Aviation ACHR, another prominent eVTOL aircraft developer, is currently in the final stages of the commercial rollout of its flagship Midnight aircraft to offer short-haul air taxi services. Strong government and commercial collaborations strengthen Archer Aviation's position in the expanding eVTOL market. In June 2025, Archer Aviation signed an agreement with Indonesia's PT. IKN to deploy its Midnight eVTOL aircraft, making Indonesia the third country in its Launch Edition program. The goal is to build a clear path to commercial use of its Midnight aircraft before receiving full certification in the United States, following similar plans in the UAE and Ethiopia. Archer Aviation recently signed a strategic partnership with Jetex. Eve Holding EVEX is based in Brazil. The company's growing backlog of Letters of Intent (LOIs), such as the agreement with Future Flight Global for up to 54 eVTOLs, reflects rising global interest in its aircraft and technology. These LOIs serve as early indicators of strong commercial demand across strategic markets like Brazil and the United States. As Eve Holding progresses toward certification, this robust pipeline strengthens its growth outlook and supports future revenue generation. Eve Holding currently expects commercialization of its eVTOL services and support business beginning in 2026, followed by the commercialization and initial revenue generation from the sale of its eVTOLs beginning in 2027. JOBY's Price Performance, Valuation & Estimates Shares of JOBY have gained 29.8% so far this year, outperforming its industry 's 5.4% decline. From a valuation perspective, Joby Aviation is trading at a premium compared to the industry average. In terms of price-to-book value, JOBY is trading at 9.7X, higher than the industry's average of 3.34X. The Zacks Consensus Estimate for JOBY's 2025 and 2026 losses has remained stable over the past seven days. JOBY's Zacks Rank Joby Aviation currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Joby Aviation, Inc. (JOBY): Free Stock Analysis Report Archer Aviation Inc. (ACHR): Free Stock Analysis Report Eve Holding, Inc. (EVEX): Free Stock Analysis Report
Fast Company
30-06-2025
- Business
- Fast Company
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. U.S.-based Joby Aviation, Inc., 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, with the aim of revolutionizing travel in Dubai while reducing traffic congestion. Shares in the company (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 Aviation founder and CEO JoeBen Bevirt said in a statement. '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 Dubai Downtown, with construction already underway. The short flights are expected to significantly cut down travel time. For example, instead of a a 45-minute car ride, a trip from 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 by the numbers 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 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.
The National
30-06-2025
- Business
- The National
Air taxi test takes flight in Dubai ahead of 2026 launch
The region's first electric air taxi test flight has been carried out in Dubai ahead of a planned launch of commercial operations next year. Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, praised the milestone trial as a 'major step forward' in the emirate's long-term vision to revolutionise public transport. Monday's test journey was carried out by California-based Joby Aviation in partnership with Dubai's Roads and Transport Authority. 'The test flight marks a major step towards launching full operations next year,' Sheikh Hamdan wrote on social media platform X. 'The all-electric aerial taxi represents a new leap in eco-friendly urban mobility – reducing travel times, enhancing quality of life and advancing sustainable development. 'This pioneering initiative is part of the UAE's broader vision to lead the world in innovation and the deployment of advanced technologies. Our nation's skies have opened to new possibilities, and the best is yet to come.' Grand ambitions take flight Joby Aviation has previously told The National it aims to deliver a 'widely accessible' service via a smartphone app and its long-term goal is to offer pricing 'competitive' with ground-based alternatives. 'We haven't announced specific pricing, but our long-term goal is to offer pricing that is competitive to the cost of similar ground-based alternatives,' Anthony Khoury, UAE general manager at the California-based company. 'Joby's unique technology means we can provide services that are not only more accessible than helicopter travel, but are also safer, quieter and have zero operating emissions. Over time we expect this to mean we can deliver a service that is widely accessible.' The UAE is pressing ahead with ambitious transport plans, including drones, driverless taxis and air taxis. Test flights for self-flying air taxis were also held in the UAE capital last month, in what was hailed by Abu Dhabi Media Office as a 'pivotal step towards integrating urban air mobility into everyday life'. The flights were organised by the Smart and Autonomous Systems Council and ADIO, in collaboration with Chinese drone manufacturer EHang and FinTech group Multi Level Group. In March, US air taxi company Archer Aviation said it was working towards launching a fleet of flying taxis before the end of the year, viewing the Gulf as the perfect launch pad to demonstrate its vehicles to the rest of the world. Abu Dhabi Aviation confirmed at the time that an agreement was made to introduce the first fleet of Archer's Midnight electric vertical take-off and landing aircraft this year.
The National
30-06-2025
- Business
- The National
Dubai conducts landmark air taxi test flight ahead of 2026 launch
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, hails flight as 'significant step forward' for ambitious air transport plans Dubai on Monday carried out the region's first electric air taxi test flight, ahead of a planned launch of commercial operations next year. Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, hailed the milestone trial as a "major step forward" in the emirate's long-term version to revolutionise public transport. The test journey was carried out by California-based Joby Aviation in partnership with Dubai's Roads and Transport Authority. "the test flight marks a major step toward launching full operations next year," Sheikh Hamdan wrote on social media platform X. "The all-electric aerial taxi represents a new leap in eco-friendly urban mobility — reducing travel times, enhancing quality of life, and advancing sustainable development. "This pioneering initiative is part of the UAE's broader vision to lead the world in innovation and the deployment of advanced technologies. Our nation's skies have opened to new possibilities, and the best is yet to come."
Yahoo
20-06-2025
- Business
- Yahoo
Cathie Wood Just Bought 3,433,807 Shares of Archer Aviation Stock. Does She Know Something Wall Street Doesn't?
Shares of Archer Aviation recently sold off in a material way, despite a lack of poor news surrounding the company. Cathie Wood of Ark Invest scooped up over 3 million shares during Archer's sell-off. Archer has a number of strategic operations underway, making the timing of Wood's purchase all the more interesting. 10 stocks we like better than Archer Aviation › In recent years, some growth investors have taken a keen interest in electric vertical take-off and landing (eVTOL) aircraft stocks. One of the favorites among retail and institutional investors alike is Archer Aviation (NYSE: ACHR), whose electric air taxis are promising to revolutionize the mobility industry. Archer is currently the 11th-largest position across Ark Invest's portfolio, which is managed by popular tech investor Cathie Wood. On June 13, shares of Archer plummeted by 14%. Despite such a precipitous drop, Wood flew in and scooped up 3,433,807 shares across her exchange-traded funds (ETF). Does Wood know something Wall Street doesn't about Archer? Let's dig in and explore what may have caused Archer shares to drop in the first place. From there, investors may have a better idea of what influenced Wood to buy the dip in Archer stock recently. As the graph below illustrates, Archer stock began selling off right out of the gate following the opening bell on June 13. But why? Well, after taking a look at the company's most recent filings with the Securities and Exchange Commission (SEC), I think I have the answer. In its recent 8-K filing, Archer disclosed that it entered into a securities purchase agreement and issued 85 million shares at a fixed price of $10. Essentially, Archer sold stock at a fixed price in an effort to raise capital. While such a move is a quick way for companies to raise cash, issuing stock is also dilutive to shareholders -- hence, the share price dropped. On the surface, it might seem that Wood simply pounced on Archer's depressed price action. However, after exploring further notes in the company's filings, I think there might be more to the picture. Archer stated that it will be using the proceeds of the stock sale for "the development of necessary commercial capabilities, including infrastructure, to support our Launch Edition program; our planned U.S. commercial launch, including our new strategic partnership as the official air taxi provider for the 2028 Olympics in LA; and the development of an AI-based aviation software platform, and the remainder for general corporate purposes." There is a lot to unpack there. First, the company's mention of an artificial intelligence (AI) aviation software platform is a reference to Archer's partnership with Palantir. This is important because it underscores Archer's commitment to transform the air mobility market -- from developing new vehicle types to next-generation aviation software platforms. In addition, raising cash now could suggest that Archer is closer to a commercial launch than some investors may realize. Taking this a step further, recent administrative actions from the president could be a tailwind for Archer as it seeks FAA approval and makes good on its position to be a transportation provider during the 2028 Olympics. Given Wood has been a longtime Archer bull, I think the savvy investor is well aware of these various initiatives and decided to double down on Ark's position during the recent sell-off. One on hand, I'm encouraged that the recent sell-off in Archer stock wasn't due to a poor earnings report or some sort of unexpected operational setback at the company. Rather, the capital raise was a planned event and shares slid over the dilution. At the same time, though, I still see Archer as a speculative stock to own right now. I find the company's various projects intriguing, to say the least. But until Archer is manufacturing aircraft at scale and generating consistent revenue and profits across its various applications, I'm hard-pressed to own the stock myself. Before you buy stock in Archer Aviation, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Archer Aviation wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor's total average return is 995% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Adam Spatacco has positions in Palantir Technologies. The Motley Fool has positions in and recommends Palantir Technologies. The Motley Fool has a disclosure policy. Cathie Wood Just Bought 3,433,807 Shares of Archer Aviation Stock. Does She Know Something Wall Street Doesn't? was originally published by The Motley Fool Sign in to access your portfolio
