- Multilateral agreement signed with three Abu Dhabi government
departments identifies support for establishing and scaling Joby’s
air taxi service in Abu Dhabi and beyond
- Agreement covers the potential to develop a full air taxi
ecosystem, including training, infrastructure development and
flight operations, as well as a manufacturing presence in Abu
Dhabi
- Agreement unlocks opportunity for inter-emirate air taxi
services
Joby Aviation, Inc. (NYSE:JOBY), a company developing
all-electric aircraft for commercial passenger service, today
announced it has signed a multilateral Memorandum of Understanding
(MoU) with the Department of Municipalities and Transport - Abu
Dhabi (DMT), the Abu Dhabi Department of Economic Development (DED)
and the Department of Culture and Tourism - Abu Dhabi (DCT Abu
Dhabi) that lays the groundwork for Joby to establish and scale air
taxi services in Abu Dhabi and beyond.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240425195449/en/
Joby Founder and CEO JoeBen Bevirt signed
a multilateral agreement with three Abu Dhabi government
departments to establish an electric air taxi ecosystem in the UAE.
(Photo: Business Wire)
The MoU, signed at the DRIFTx international thought-leadership
and exhibition platform in Abu Dhabi, demonstrates the breadth of
support available to Joby as part of their participation in the
Smart and Autonomous Vehicles Industry (SAVI) cluster and builds on
Joby’s existing commitments to the UAE, including the exclusive
right to operate air taxi services in Dubai, which the company
expects to start as early as next year. The agreement also unlocks
the potential for inter-emirate air taxi services, for example
between Abu Dhabi and Dubai.
His Excellency Mohamed Ali Al Shorafa, Chairman of DMT,
commented on the agreement, saying: "Abu Dhabi aims to spearhead
the advancement and implementation of the next era of advanced
mobility solutions. Through the Emirate’s SAVI cluster and this
visionary partnership with Joby, we are not only laying the
foundation for cutting-edge air taxi services but also shaping the
future of transportation; igniting a journey where the sky is no
longer the limit, but the beginning of endless possibilities. We
look forward to seeing their innovative aircraft take-off from the
UAE capital, offering the world a glimpse, through Abu Dhabi, of
what the future of mobility looks like.”
His Excellency Ahmed Jasim Al Zaabi, Chairman of ADDED,
said: “The development of an advanced industrial and manufacturing
base is a core driver of Abu Dhabi’s ‘economic diversification 2.0’
agenda as outlined by the Abu Dhabi Industrial Strategy (ADIS),
which is strengthening the Emirate’s position as the region’s most
competitive industrial hub by increasing access to financing,
enhancing ease of doing business, and attracting foreign direct
investment. Smart and autonomous vehicles in particular are
experiencing rapid growth, buoyed by the launch of the SAVI
cluster, which leverages Abu Dhabi’s world-class infrastructure to
scale the operations of global companies. Joby’s expansion into Abu
Dhabi is a testament to the success of this strategy.”
H.E. Mohamed Khalifa Al Mubarak, Chairman of DCT Abu
Dhabi, said: “The MoU aligns seamlessly with our Tourism
Strategy 2030, which underscores our steadfast commitment to
fostering sustainable growth and strategic development in the
travel and tourism sector. As part of our focus on infrastructure
and mobility, we are collaborating closely with both government and
private sectors to harness smart city initiatives and sustainable
technologies. Through the adoption of green transportation
solutions, we aim to enhance the quality of experiences offered to
both our community and visitors. The introduction of scale air taxi
services marks a significant addition, enhancing accessibility to
natural attractions, tourist hotspots, and architectural landmarks,
thereby elevating overall visitor experiences.”
JoeBen Bevirt, founder and CEO, Joby Aviation, said:
“Today’s agreement demonstrates the incredible momentum behind the
adoption of clean flight across the UAE. We’re looking forward to
delivering a fantastic experience for our future customers in Abu
Dhabi and we’re excited to be unlocking the potential for
zero-emissions flight between Abu Dhabi and Dubai. We’re grateful
for the support and collaboration of our governmental partners and
the entire ecosystem in Abu Dhabi and we remain deeply impressed by
their commitment to building out a world-class aviation ecosystem
in the Emirate.”
Joby’s aircraft, which is on display for the first time in Abu
Dhabi at the DRIFTx event in Yas Marina, is designed to carry a
pilot and four passengers at speeds of up to 200 miles per hour
(321 km/h) with zero operating emissions and a remarkably low
acoustic footprint. Its maximum range of 100 miles (161 km) would
enable fast and clean air travel both within Abu Dhabi and across
the wider UAE, with a journey from Abu Dhabi to Dubai taking around
30 minutes compared with around two hours by car during rush
hour.
Joby has been working closely with the General Civil Aviation
Authority (GCAA) of the UAE to define a path to support the region
in becoming world leaders in the introduction of air taxis. The
GCAA regulatory framework builds upon FAA standards with additional
company testing and analysis alongside a high level of regulator
oversight and an ongoing review process to ensure safety for early
operations. Inter-emirate travel would require additional approval
from the GCAA.
In November 2023, Joby’s aircraft became the first electric air
taxi to fly in New York City, building on a number of recent
successes including the launch of production at the Company’s
initial manufacturing facility in California in June 2023 and the
first ever delivery of an electric air taxi to the U.S. Department
of Defense in September 2023. In February 2024, Joby confirmed it
had completed the third of five stages required to receive type
certification for its aircraft from the US Federal Aviation
Administration. Joby is listed on the New York Stock Exchange and
has raised more than $2 billion of funding to date, including
investments from Toyota, Delta Air Lines, SK Telecom, Uber and
Baillie Gifford.
Running from 25-26 April 2024 at Yas Marina Circuit, Abu Dhabi,
DRIFTx is an international thought-leadership and exhibition
platform dedicated to advancing the future of smart, autonomous,
and sustainable mobility across air, land, and sea. Supported by
the Abu Dhabi Investment Office (ADIO) and Abu Dhabi’s SAVI
cluster, DRIFTx is a leading global event to showcase the latest in
advanced urban mobility, driving discussions, collaboration, and
innovation across the sector.
Media assets, including footage of Joby’s aircraft in flight and
photos from the signing ceremony, are available here.
About Joby
Joby Aviation, Inc. (NYSE:JOBY) is a California-based
transportation company developing an all-electric, vertical
take-off and landing air taxi which it intends to operate as part
of a fast, quiet, and convenient service in cities around the
world. To learn more, visit www.jobyaviation.com.
Forward Looking Statements
This release contains “forward-looking statements” within the
meaning of the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995, including but not limited to,
statements regarding the development and performance of our
aircraft, our regulatory outlook, progress and timing; our planned
operations in Dubai and Abu Dhabi, including our expectation to
start commercial passenger service as early as 2025, potential
routes and our path to certification in the UAE; our business plan,
objectives, goals and market opportunity; plans for, and potential
benefits of, our strategic partnerships, including financial
support, exclusivity and other expected benefits from our
Memorandum of Understanding with Department of Municipalities and
Transport - Abu Dhabi, the Abu Dhabi Department of Economic
Development and the Department of Culture and Tourism - Abu Dhabi ;
and our current expectations relating to our business, financial
condition, results of operations, prospects, capital needs and
growth of our operations. You can identify forward-looking
statements by the fact that they do not relate strictly to
historical or current facts. These statements may include words
such as “anticipate”, “estimate”, “expect”, “project”, “plan”,
“intend”, “believe”, “may”, “will”, “should”, “can have”, “likely”
and other words and terms of similar meaning in connection with any
discussion of the timing or nature of future operating or financial
performance or other events. All forward looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially, including: our ability to launch our aerial
ridesharing service and the growth of the urban air mobility market
generally; our ability to produce aircraft that meet our
performance expectations in the volumes and on the timelines that
we project, and our ability to launch our service; complexities
related to obtaining certification and operating in foreign
markets; the competitive environment in which we operate; our
future capital needs; our ability to adequately protect and enforce
our intellectual property rights; our ability to effectively
respond to evolving regulations and standards relating to our
aircraft; our reliance on third-party suppliers and service
partners; uncertainties related to our estimates of the size of the
market for our service and future revenue opportunities; and other
important factors discussed in the section titled “Risk Factors” in
our Annual Report on Form 10-K, filed with the Securities and
Exchange Commission (the “SEC”) on February 27, 2024, and in future
filings and other reports we file with or furnish to the SEC. Any
such forward-looking statements represent management’s estimates
and beliefs as of the date of this release. While we may elect to
update such forward-looking statements at some point in the future,
we disclaim any obligation to do so, even if subsequent events
cause our views to change.
About the Department of Municipalities and Transport
(DMT)
Established in 2019, the Department of Municipalities and
Transport – Abu Dhabi (DMT) was created by merging the Department
of Urban Planning and Municipalities with the Department of
Transport.
Our mandate is simple: devise, deliver, and develop services
that enable the entire Abu Dhabi community to realise its full
potential, as well as strengthen the Emirate’s reputation as
world-class destination to live, work, and visit. Empowered by the
values of good governance, we actively support the Abu Dhabi
government's ambition to spearhead progressive urban planning and
transportation that result in economic growth and transformative
investments across the Emirate.
From infrastructure, facilities and transportation to pedestrian
and cycling pathways, parks, schools, places of worship, and more,
DMT strives to meet every resident's needs and enhance their
overall quality of life.
We achieve this by providing efficient services across three
regional municipalities - Abu Dhabi, Al Ain and Al Dhafra – in
addition to overseeing the ongoing development of the Emirate’s
land, air, and maritime transport networks.
Driven by innovation and sustainability, we aim to build smart
cities, adapt to change, and sustain prosperity for future
generations across the Emirate of Abu Dhabi.
www.dmt.gov.ae/en
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Media: press@jobyaviation.com
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