Joby, however, is relying on a vehicle specifically designed for urban air mobility. Is it really a good dinner? Is it really good theater?” “Flying cars are sort of like the dinner theater of aerospace. “Urban air mobility doesn’t do it for me,” says Teal Group aerospace consultant Richard Aboulafia.
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Helicopters, after all, have existed for a long time. Success isn’t assured though, and air taxis have been tried before.
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Between now and then, it needs to secure certification from the Federal Aviation Administration, scale up its manufacturing operations, and select its initial flight routes. Joby is targeting a 2024 commercial launch in its first city in the U.S. The company wants to get people places faster and safer, for the same cost as driving-and with a better view, soaring above gridlocked traffic. Meets the air,” said Joby’s executive chairman Paul Sciarra, who is also a
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The company wants to be both the designer and manufacturer of its own fleet of six-rotor, four-passenger electric vertical takeoff and landing, or eVTOL, aircraft, plus operate the air-taxi service in cities around the world. (ticker: RTP), will combine with Joby by the end of the second quarter.Īir taxi doesn’t really do Joby’s business model justice, however. If approved by its shareholders, the SPAC, The air-taxi start-up Joby Aviation is becoming a publicly traded company by merging with a special-purpose acquisition company, or SPAC, backed by LinkedIn co-founder-turned-venture-capitalist Reid Hoffman and Zynga founder Mark Pincus.