Latest news with #electricaircraft
Arab News
2 days ago
- Business
- Arab News
Flying cars in Saudi Arabia? ALJ, Joby sign agreement
Abdul Latif Jameel, an 80-year-old network of diversified businesses, and Joby Aviation, a company developing electric air taxis for commercial passenger service, have announced the signing of an MoU to explore opportunities to establish a distribution agreement in Saudi Arabia for Joby's electric aircraft. This announcement builds upon the renewed economic partnership between the US administration and the Saudi government toward shared innovation and transportation growth. Potential delivery of up to 200 Joby aircraft and related services valued at approximately $1 billion are expected by the businesses over the coming years. In the long-term, Abdul Latif Jameel and Joby also see potential revenue opportunities across the Middle East. Abdul Latif Jameel and Joby share complementary long-term visions to revolutionize the future of mobility through transportation services that are cleaner, safer, more efficient and more affordable, helping to improve passenger experiences while simultaneously protecting the planet. In addition, the Jameel family invested in Joby's Series C funding round, led by Toyota Motor Corporation in 2020. The direct sale of aircraft through businesses such as Abdul Latif Jameel form one pillar of Joby's commercialization strategy. Additionally, Joby will directly own and operate its aircraft and services in certain markets, like the US, and partner for similar operations in other markets, such as Japan. 'This collaboration is about bringing America's leadership in electric air mobility to the world,' said JoeBen Bevirt, founder and CEO of Joby Aviation. 'Together with Abdul Latif Jameel, we're not just imagining a cleaner, safer, more efficient future— we're building it. And there is no better partner to help unlock the extraordinary opportunity for air travel in the region.' Hassan Jameel, vice chairman, Saudi Arabia, Abdul Latif Jameel, said: 'Saudi Arabia is transitioning toward a new era of mobility — one that is on-demand, shared, connected, and sustainable. eVTOL is an exciting and important component of this. We are looking forward to collaborating with Joby to support the transformation of the Kingdom's mobility sector. This collaboration also comes as Abdul Latif Jameel Motors marks 70 years of distributing Toyota in Saudi Arabia — a strategic investor in Joby.' Joby's collaboration with Abdul Latif Jameel will initially focus on Saudi Arabia, where Abdul Latif Jameel has an extensive presence, network and deep operational experience. The two businesses will work together to explore distribution and sales collaborations, the launch of local air taxi services, including the establishment of aftermarket services such as maintenance, repair, and overhaul, and pilot training. Joby's piloted, all-electric aircraft is designed to carry four passengers at speeds of up to 200 mph, offering high-speed mobility with a fraction of the noise produced by helicopters and zero operating emissions. The business plans to carry its first passengers in Dubai in 2026. Given the importance of mobility to Saudi Arabia's urban transformation, the collaboration will drive socioeconomic growth in the Kingdom and create employment opportunities for Saudi nationals, in line with Vision 2030.
Zawya
2 days ago
- Business
- Zawya
Abdul Latif Jameel and Joby agree to explore opportunities for electric aircraft in Saudi Srabia
Potential delivery of up to 200 electric aircraft and related services valued at approximately $1 billion over coming years Grounded in Saudi Arabia's Vision 2030, new MOU to support socio-economic growth in the Kingdom Santa Cruz, CA and Jeddah, Saudi Arabia — Abdul Latif Jameel, an 80 year-old network of diversified businesses, and Joby Aviation, Inc. (NYSE: JOBY), a company developing electric air taxis for commercial passenger service, are announcing the signing of a Memorandum of Understanding (MoU) to explore opportunities to establish a distribution agreement in Saudi Arabia for Joby's electric aircraft. This announcement builds upon the renewed economic partnership between the U.S. administration and the Saudi government towards shared innovation and transportation growth. Potential delivery of up to 200 Joby aircraft and related services valued at approximately $1 billion are expected by the businesses over the coming years. In the long-term, Abdul Latif Jameel and Joby also see potential revenue opportunities across the Middle East. Abdul Latif Jameel and Joby share complementary long-term visions to revolutionize the future of mobility through transportation services that are cleaner, safer, more efficient and more affordable, helping to improve passenger experiences while simultaneously protecting the planet. In addition, the Jameel family invested in Joby's Series C funding round, led by Toyota Motor Corporation in 2020. The direct sale of aircraft through businesses such as Abdul Latif Jameel form one pillar of Joby's commercialization strategy. Additionally, Joby will directly own and operate its aircraft and services in certain markets, like the United States, and partner for similar operations in other markets, such as Japan. ' This collaboration is about bringing America's leadership in electric air mobility to the world,' said JoeBen Bevirt, Founder and CEO of Joby Aviation. ' Together with Abdul Latif Jameel, we're not just imagining a cleaner, safer, more efficient future—we're building it. And there is no better partner to help unlock the extraordinary opportunity for air travel in the region.' Hassan Jameel, Vice Chairman, Saudi Arabia, Abdul Latif Jameel, stated: 'Saudi Arabia is transitioning toward a new era of mobility - one that is on-demand, shared, connected, and sustainable. eVTOL is an exciting and important component of this. We are looking forward to collaborating with Joby to support the transformation of the Kingdom's mobility sector. This collaboration also comes as Abdul Latif Jameel Motors marks 70 years of distributing Toyota in Saudi Arabia a strategic investor in Joby.' Joby's collaboration with Abdul Latif Jameel will initially focus on Saudi Arabia, where Abdul Latif Jameel has an extensive presence, network and deep operational experience. The two businesses will work together to explore distribution and sales collaborations, the launch of local air taxi services, including the establishment of aftermarket services such as MRO (Maintenance, Repair, and Overhaul), and pilot training. Joby's piloted, all-electric aircraft is designed to carry four passengers at speeds of up to 200 mph, offering high-speed mobility with a fraction of the noise produced by helicopters and zero operating emissions. The business plans to carry its first passengers in Dubai in 2026. Given the importance of mobility to Saudi Arabia's urban transformation, the collaboration aims to drive socio-economic growth in the Kingdom and create employment opportunities for Saudi nationals, in line with Vision 2030. About Abdul Latif Jameel Abdul Latif Jameel is a brand name associated with a portfolio of diversified independent businesses established by the Saudi Jameel family. Being internationally recognized for over 80 years, Abdul Latif Jameel shapes the future of the core sectors of the businesses: mobility, energy & water, financial services, investments and health, with a strong commitment to continuous investment in people, business, technology, and community. For more information, please visit 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
CNA
2 days ago
- Business
- CNA
Beta Technologies, in a first, lands passenger-carrying electric aircraft at NY airport
(Corrects headline to reflect that the milestone was at a New York airport, not that it was the first such aircraft ever) Beta Technologies became the first U.S. company to land an all-electric aircraft at an airport in the New York-New Jersey region, the company and port authorities said in Tuesday. The flight to New York's John F. Kennedy International Airport flew 45 minutes with a pilot and four people, they said in a statement. Transportation companies, including airlines, are looking to develop services using electric battery-powered aircraft that can take off and land vertically to ferry travelers for short city trips, allowing them to beat traffic. In October, the Federal Aviation Administration finalized comprehensive training and pilot certification rules for flying air taxis, calling it "the final piece in the puzzle for safely introducing these aircraft in the near term." In the same month, Beta raised $318 million in equity capital to fund production, certification, and commercialization of electric aircraft, bringing its total raised value to more than $1 billion. The Vermont-based company was founded in 2017. "After years of rigorous safety testing in all types of environments, we're proud to stand here with the Port Authority and the city of New York to demonstrate exactly how this aircraft can serve cities by easing congestion, reducing emissions, and increasing accessibility," Kyle Clark, CEO and founder of the privately held company, said in the statement.
CNA
2 days ago
- Business
- CNA
Beta Technologies conducts first all-electric aircraft landing
Beta Technologies became the first U.S. company to land an all-electric aircraft at an airport in the New York-New Jersey region, the company and port authorities said in Tuesday. The flight to New York's John F. Kennedy International Airport flew 45 minutes with a pilot and four people, they said in a statement. Transportation companies, including airlines, are looking to develop services using electric battery-powered aircraft that can take off and land vertically to ferry travelers for short city trips, allowing them to beat traffic. In October, the Federal Aviation Administration finalized comprehensive training and pilot certification rules for flying air taxis, calling it "the final piece in the puzzle for safely introducing these aircraft in the near term." In the same month, Beta raised $318 million in equity capital to fund production, certification, and commercialization of electric aircraft, bringing its total raised value to more than $1 billion. The Vermont-based company was founded in 2017. "After years of rigorous safety testing in all types of environments, we're proud to stand here with the Port Authority and the city of New York to demonstrate exactly how this aircraft can serve cities by easing congestion, reducing emissions, and increasing accessibility," Kyle Clark, CEO and founder of the privately held company, said in the statement.
Reuters
2 days ago
- Business
- Reuters
Beta Technologies conducts first all-electric aircraft landing
June 3 (Reuters) - Beta Technologies became the first U.S. company to land an all-electric aircraft at an airport in the New York-New Jersey region, the company and port authorities said in Tuesday. The flight to New York's John F. Kennedy International Airport flew 45 minutes with a pilot and four people, they said in a statement. Transportation companies, including airlines, are looking to develop services using electric battery-powered aircraft that can take off and land vertically to ferry travelers for short city trips, allowing them to beat traffic. In October, the Federal Aviation Administration finalized comprehensive training and pilot certification rules for flying air taxis, calling it "the final piece in the puzzle for safely introducing these aircraft in the near term." In the same month, Beta raised $318 million in equity capital to fund production, certification, and commercialization of electric aircraft, bringing its total raised value to more than $1 billion. The Vermont-based company was founded in 2017. "After years of rigorous safety testing in all types of environments, we're proud to stand here with the Port Authority and the city of New York to demonstrate exactly how this aircraft can serve cities by easing congestion, reducing emissions, and increasing accessibility," Kyle Clark, CEO and founder of the privately held company, said in the statement.
