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 electric vertical take-off and landing (eVTOL) services from 2024 to 2025.
The delay is primarily due to unforeseen FAA regulatory hurdles, specifically the need for new Special Federal Aviation Regulations (SFARs) for certification, which are not expected until late 2024.
Additionally, the company cited its strategic focus on vertical integration and the extensive work involved in evolving its manufacturing processes as contributing factors to the revised timeline.
Despite the postponement, Joby highlighted a $60 million upfront equity investment from Delta Air Lines for a home-to-airport eVTOL shuttle service, with potential for up to $140 million more.

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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.