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 is delaying the commercial launch of its eVTOL services from 2024 to 2025, primarily due to unexpected regulatory hurdles with the FAA concerning operational certification.
The company's strategic decision to heavily invest in vertical integration for manufacturing and development is also a contributing factor to the revised timeline.
Despite the delay, Joby secured a significant $60 million upfront equity investment from Delta Air Lines for a future home-to-airport eVTOL shuttle service, with potential for further investment.
Joby reported a quarterly loss of $79.2 million but continues to grow its personnel and invest in research and development to build, test, and launch its production aircraft.

See a mistake? Contact us.

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.