Joby Aviation (JOBY) said on Monday that it had reached a “historic milestone” by completing a series of piloted, vertical-takeoff-and-landing wingborne test flights in Dubai.
The company calls the successful test flights a first for the electric vertical takeoff and landing (eVTOL) aircraft sector, and puts it on a path to launch its commercial operations with passengers in the United Arab Emirates beginning next year.
“The United Arab Emirates is a launchpad for a global revolution in how we move,” JoeBen Bevirt, founder and CEO of Joby Aviation, said in a statement. “In addition to building a performant aircraft, we’ve also been maturing our program for anticipated passenger service with global operational capabilities and scalable, durable manufacturing.”
Its aircraft features a vertical-to-horizontal transition design, enabling it to take off and land like a helicopter but fly like a traditional fixed-wing plane.
The company noted in its press release that it has a three-pronged commercialization strategy that includes direct operations, aircraft sales, and regional partnerships.
Joby plans to launch its commercial service at Dubai International Airport (DXB), Palm Jumeirah, Dubai Marina, and Dubai Downtown.
“Our flights and operational footprint in Dubai are a monumental step toward weaving air taxi services into the fabric of daily life worldwide,” Bevirt added. “With our visionary partners, we’re igniting a future where quiet, clean flight is the new normal, and we’re demonstrating the leadership of American innovation on the global stage.”
Joby’s stock gained 11.87% on Monday.
The shares are up 29.8% YTD and have soared 106.9% over the past year, pushing its market cap up to nearly $9 billion.
Joby has collaborated with Dubai’s Roads and Transport Authority (RTA), the Dubai Civil Aviation Authority (DCAA), and the UAE’s General Civil Aviation Authority (GCAA) on launching its commercial air taxi service.
A 2024 agreement with the RTA granted Joby exclusive rights to operate air taxis in Dubai for six years.
The California-based company has been making other recent inroads in the Middle East as well.
Joby announced at the beginning of June that Saudi Arabian firm Abdul Latif Jameel was making an investment worth approximately $1 billion for up to 300 of its eVTOLs.
Adbdul Latif Jameel was an investor in Joby’s Series C funding round.
The two companies will focus on the Saudi Arabian market as part of the deal, exploring distribution and sales collaborations, the launch of local air taxi services, and pilot training.
Joby also announced in May that it had closed on a new $250 million investment from Toyota (TM), which it said will be used to support certification and commercial production of Joby’s electric aircraft, while also furthering the company’s goal of building a manufacturing alliance with Toyota.
Toyota is Joby’s largest external shareholder, having already invested $400 million in the company before the latest deal.
Meanwhile, President Trump signed an executive order in June that includes a pilot program for testing air taxis in the U.S., which could open up commercialization opportunities for Joby in its home country.
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