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Plans to bring its revolutionary electric aircraft to U.K. market
Becomes first eVTOL company to apply for foreign validation of its FAA type certification
Demonstrates leadership by U.S. and U.K. regulators on bringing innovative technologies to market
LONDON & SANTA CRUZ, Calif., July 17, 2022--(BUSINESS WIRE)--Joby Aviation, Inc. (NYSE:JOBY), a California-based company developing all-electric aircraft for commercial passenger service, today announced it has formally applied for its revolutionary aircraft design to be certified for use in the United Kingdom.
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The Joby aircraft (Photo: Business Wire)
While Joby is currently pursuing the "type certification" for its aircraft with the U.S. Federal Aviation Administration ("FAA") and expects the U.S. to be its first operating market, this application will allow Joby’s U.S.-based certification to be concurrently validated by the United Kingdom’s Civil Aviation Authority ("CAA"), accelerating the Company’s path to market in the U.K. Joby is believed to be the first eVTOL company to apply for foreign validation of its FAA type certificate.
With a maximum range of 150 miles and a quiet acoustic profile, Joby’s five-seat, piloted electric vertical take-off and landing ("eVTOL") aircraft is designed to connect people and cities through fast, quiet, and emissions-free flight.
Joby’s application builds on a joint statement by the FAA and CAA in March, announcing their intent to leverage the existing Bilateral Aviation Safety Agreement between the two regulators to streamline the introduction of eVTOL aircraft using existing regulatory frameworks.
Commenting on the application, JoeBen Bevirt, founder and CEO, Joby Aviation, said: "By working hand-in-hand on certification, the U.K. and the U.S. are setting the stage for these two countries to be amongst the earliest adopters of this important new technology."
"We strongly believe that a collaborative approach to regulation helps to foster greater safety and accelerate the introduction of new technologies that benefit the public and the environment."
"We’re incredibly excited about the potential for electric aerial ridesharing to offer a new form of clean and affordable urban and regional connectivity across the U.K., where more than 80% of the population lives in, or near, cities."
Type certification is a multi-year process which sees a company undertake rigorous testing and documentation across each aircraft system in order to prove the aircraft is safe and ready for commercial operations. Similar type certification processes are undertaken for all aircraft, big and small – an approach that has helped shape air travel into one of the safest forms of transportation available today.
In March, Joby announced it had joined ADS Group, the premiere U.K. trade association for aerospace, defense and security companies, and is working with the U.K.’s leading provider of air traffic control services, NATS, to explore integration of Joby services into the U.K. airspace.
The news comes ahead of the Farnborough International Airshow, one of the world’s largest airshows, which will take place in the U.K. from July 18-22.
ABOUT JOBY AVIATION
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. To learn more, visit www.jobyaviation.com.
Forward Looking Statements
This statement 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, the growth of our manufacturing capabilities, our regulatory outlook, progress and timing; our business plan, objectives, goals and market opportunity; 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 commercial passenger service beginning in 2024, as currently projected; 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 March 28, 2022, 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 presentation. 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.
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