- The White House-backed program allows Joby to deploy its air taxis in the U.S. before receiving certification from the Federal Aviation Administration.
- The selected applications will now progress into the next stage where agreements and operational details will be finalized, the company said.
- Meanwhile, the company continues to look forward to FAA certification.
Shares of Joby Aviation, Inc. (JOBY) jumped 7% in extended trading hours after the company said that it stands the chance of beginning early operations this year in multiple U.S. states.
The California-based company, after being selected as a partner in multiple winning applications under the White House-backed Electric Vertical Takeoff and Landing (eVTOL) Integration Pilot Program, sees itself launching in Arizona, Florida, Idaho, New Jersey, New York, North Carolina, Oklahoma, Oregon, Texas and Utah this year.
What About FAA Certification?
The White House-backed program allows Joby to deploy its air taxis in the U.S. before receiving certification from the Federal Aviation Administration. The company noted that the selection has the potential to “significantly accelerate” Joby’s path to commercial service.
The selected applications will now progress into the next stage, where agreements and operational details will be finalized, the company said. Once contracts are finalized, flights are expected to start within 90 days, it added.
Meanwhile, the company continues to look forward to FAA certification. Its FAA-conforming aircraft is set to fly “shortly,” the company added.
The company regularly flies piloted, full-transition flights — taking off vertically, transitioning to wingborne cruise, and returning to vertical landing — as part of a comprehensive real-world flight test program, it added.
The company further plans to scale production to four aircraft per month in 2027 to meet demand. Joby expanded its site in Marina and Daytona for the purpose.
How Did Stocktwits Users React?
On Stocktwits, retail sentiment around JOBY stock rose from ‘bearish’ to ‘bullish’ over the past 24 hours, while message volume increased from ‘normal’ to ‘high levels.
JOBY stock has gained 63% over the past 12 months.
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