Joby Pushes Back eVTOL Service Launch Due To Regulatory, Internal Delays

Joby Aviation is delaying the commercial service launch of its electric vertical take-off and landing services until 2025, in part because of regulatory hurdles, the company's founder and CEO JoeBen Bevirt said Thursday.

Michael Wildes

Thursday, November 03, 2022 at 05:24 PM ET

Verified

Key Takeaways:

Joby Aviation has delayed the commercial launch of its eVTOL services from 2024 to 2025.
The primary reason for the delay is a revised FAA certification path (2117B), which requires new Special Federal Aviation Regulations (SFARs) not expected until late 2024.
Another contributing factor is the company's strategic focus on vertical integration, which demands significant internal investment and development efforts.
Despite the setback, Joby secured a $60 million upfront equity investment from Delta Air Lines in Q3, with potential for an additional $140 million through operating milestones.

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Joby Aviation (NYSE: JOBY) is delaying the commercial service launch of its electric vertical take-off and landing (eVTOL) services until 2025, in part, because of regulatory hurdles, the company’s founder and CEO JoeBen Bevirt said Thursday.

Bevirt told investors that hurdles with the Federal Aviation Administration (FAA)—as well as Joby’s focus on being vertically integrated—are the reasons for delaying the launch from 2024 as it initially predicted.