Joby Aviation bags $55 Mn contract from US Air Force

Electric aircraft maker Joby Aviation will be delivering up to nine air taxis to the U.S. Air Force under a $55 million contract extension that marks the company’s first revenue-generating operations.

Under the contract with the Air Force, Joby will maintain ownership of the air taxis but will teach military pilots to fly them for the first time.

Joby will deliver the first two aircraft to Edwards Air Force Base in California by March 2024 for field exercises that will help the Air Force determine whether to adopt electric vertical takeoff and landing (eVTOL) aircraft.

The contract affords an opportunity for the California-based startup to test its proposed pilot training regime, maintenance processes and charging infrastructure ahead of the expected start of commercial operations in 2025.

The Air Force is exploring eVTOL aircraft as a potential option to conduct certain air logistics tasks typically performed by helicopters, but at lower costs and without the need to stockpile fuel.

Notably, the company previously obtained the first airworthiness approval from the Air Force for an uncrewed electric aircraft in 2020. The latest award brings the total value of Joby’s contracts with the Air Force up to $131 Million.

About Joby 

Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric, vertical take-off and landing aircraft which it intends to operate as part of a fast, quiet, and convenient service in cities around the world.

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