Latest news with #electricairtaxis
Yahoo
3 days ago
- Automotive
- Yahoo
Flying Cars Aren't Just Science Fiction Anymore. This Company Is Leading the Charge in eVTOLs -- and Yes, It's Publicly Traded.
Key Points Joby's electric air taxis promise emissions-free trips over congested cities at speeds up to 200 mph. Partners like Toyota, Delta, and Blade give Joby cash, infrastructure, and market access ahead of launch. With no revenue yet and trading around 20 times book value, the market is betting on impeccable execution. 10 stocks we like better than Joby Aviation › The idea of hailing a flying car has always belonged to science fiction. But thanks to Joby Aviation (NYSE: JOBY), the idea of catching a flying taxi is slowly edging into reality. The company's electric vertical takeoff and landing (eVTOL) aircraft are designed to carry passengers over congested cities at speeds upwards of 200 mph. And they are quieter than a helicopter and have zero emissions. This vision isn't theoretical. Joby has already demonstrated eVTOLs in New York and Dubai and is moving through the Federal Aviation Administration's (FAA's) certification process as I write. With major strategic partners, a strong cash position, and an aggressive market expansion plan, Joby could be one of the first to make commercial flying taxis a real business. The question for investors is whether this growth stock is ready for takeoff today, or might it be wiser to wait until the company has a little more grounding? From blueprints to boarding passes Joby is trying to solve a problem that most city drivers face everyday: traffic. And not just any traffic. Horribly congested traffic, the kind that makes you wish you were anywhere (even at the DMV, with slow internet) but stuck in it. To get there, however, Joby needs a few things to work in its favor. The first is full FAA-type certification, the regulatory green light that will let it fly passengers in its eVTOLS. The second is the infrastructure to make its vision practical, that is, a network of vertiports, charging stations, and terminals in the right locations so customers can board, fly, and land without the experience feeling like more hassle than just staying in the car. So far, the company has checked off some big early boxes. It already holds FAA Part 135 certification, which means it's cleared to operate as an air carrier with approved aircraft. It's also moving to lock down prime real estate for takeoff and landing, from Manhattan heliports to Dubai's planned aerial taxi hubs. But that doesn't mean the company is smooth flying -- yet. Its biggest "unknown" is time. Every month that slips by without full FAA certification pushes profitability that much further into the future. Add in the fact that it's burning cash each quarter, and you start to see why patience -- and a deep cash cushion -- are non-negotiable. Big names, big bets Speaking of cash, where is Joby getting money for research and development? Well, here's where the story gets interesting. Although Joby is pre-revenue, it has an impressive ecosystem of backers and partners. Back in 2022, Delta Air Lines (NYSE: DAL) invested about $60 million in Joby, with the expectation that Joby would eventually create a premium service for Delta customers. More recently, Toyota (NYSE: TM) committed $894 million to helping Joby with certification and commercial production of its electric air taxis. In perhaps its boldest move, Joby plans to acquire Blade Air Mobility (NASDAQ: BLDE), which would help it gain access to central terminals in New York, Southern California, and Europe. Meanwhile, international expansion is already underway. In Dubai, Joby signed an exclusive six-year agreement with the Roads and Transport Authority (RTA) to launch aerial tax services there in 2026. Finally, Joby recently announced that it's partnering with L3Harris to develop hybrid eVTOLs for defense applications, with demonstrations planned in 2026. Things seem to be rolling. But before we get too bullish, let's look at its finances. The numbers under the hood Here's where reality checks in. Over the last 12 months, Joby generated just $110,000 in revenue, essentially none, while recording a net loss of about $596 million. Just in the first quarter of 2025, it posted a loss of $82 million, or $0.11 per share, driven largely by spending in research and development. To add fuel to the fire, cash burn was $111 million for the quarter. The balance sheet, however, is a strength, largely because of partners. Joby holds about $813 million in cash and short-term investments. That net cash position gives the company some runway to fund operations without immediate dilution. Still, with a market cap near $17 billion, the stock is priced well ahead of fundamentals. It's price-per-book (P/B) ratio -- which measures how richly the market values the company relative to the net assets on its balance sheet -- sits around 20. That's steep compared with the S&P 500's median of about 3. Even Archer Aviation (NYSE: ACHR), Joby's primary competitor, is trading at roughly 5.6 times book value. That doesn't mean Joby can't grow into its valuation, but it does underscore how much future success is baked into today's price. Verdict: Should you hitch a ride? When people talk about Joby's risks, they usually circle the big ones: FAA certification, steady cash burn, competition. But there's a second layer of risks -- call them structural -- that could make investing in Joby choppy in the short term. Start with the skies themselves. Urban airspace is already a juggling act, and air traffic control in cities like New York and LA runs hot most days. If regulators decide to keep eVTOL traffic on a tight leash, Joby's flight schedule could end up thinner than its business plan assumes. On the ground, vertiports have to be built, and convincing neighborhoods to welcome them is another story entirely. Costs could also be a problem: insurance, pilot pay, and battery charging might keep fares higher than commuters are willing to swallow. Still, if you believe Joby can navigate these headwinds and execute on time, the payoff could be big. For long-term investors who can tolerate volatility, this is a speculatve bet on a market that doesn't exist yet but could make ground transportation look radically different ten years from now. Should you invest $1,000 in Joby Aviation right now? Before you buy stock in Joby Aviation, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Joby Aviation wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,427!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,119,863!* Now, it's worth noting Stock Advisor's total average return is 1,060% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 4, 2025 Steven Porrello has positions in Archer Aviation. The Motley Fool recommends Delta Air Lines. The Motley Fool has a disclosure policy. Flying Cars Aren't Just Science Fiction Anymore. This Company Is Leading the Charge in eVTOLs -- and Yes, It's Publicly Traded. was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-08-2025
- Business
- Yahoo
Electric air taxi company Joby to acquire Blade Air's passenger business
(Reuters) -Joby Aviation (JOBY) will acquire helicopter rideshare company Blade Air Mobility's passenger business for up to $125 million, it said Monday, as it works to speed the deployment of electric air taxis for commercial passenger services. Joby's stock rose almost 6% before the bell on Monday. Blade's Medical division is not part of the deal and will remain a separate public company rebranded as Strata Critical Medical but will partner with Joby on medical transportation. The acquisition includes all of Blade's passenger business, including U.S. and European operations. Under the agreement, Joby will pay Blade up to $125 million, including $35 million tied to certain performance milestones and retention of certain key employees. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-08-2025
- Business
- Yahoo
Electric air taxi company Joby to acquire Blade Air's passenger business
(Reuters) -Joby Aviation will acquire helicopter rideshare company Blade Air Mobility's passenger business for up to $125 million, it said Monday, as it works to speed the deployment of electric air taxis for commercial passenger services. Blade's Medical division is not part of the deal and will remain a separate public company rebranded as Strata Critical Medical but will partner with Joby on medical transportation. The acquisition includes all of Blade's passenger business, including U.S. and European operations. Under the agreement, Joby will pay Blade up to $125 million, including $35 million tied to certain performance milestones and retention of certain key employees. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
04-08-2025
- Business
- Reuters
Electric air taxi company Joby to acquire Blade Air's passenger business
Aug 4 (Reuters) - Joby Aviation (JOBY.N), opens new tab will acquire helicopter rideshare company Blade Air Mobility's (BLDE.O), opens new tab passenger business for up to $125 million, it said Monday, as it works to speed the deployment of electric air taxis for commercial passenger services. Blade's Medical division is not part of the deal and will remain a separate public company rebranded as Strata Critical Medical but will partner with Joby on medical transportation. The acquisition includes all of Blade's passenger business, including U.S. and European operations. Under the agreement, Joby will pay Blade up to $125 million, including $35 million tied to certain performance milestones and retention of certain key employees.
TechCrunch
01-08-2025
- Automotive
- TechCrunch
Joby Aviation and defense contractor L3Harris to test autonomous hybrid aircraft
Joby Aviation is often cast as a developer of commercial electric air taxis, but the publicly traded company has also pursued a separate track to market through a long-standing relationship with the U.S. Department of Defense. Now, its years of research and development with the Department of Defense may be paying off. The company on Thursday said it had signed an agreement with defense contractor L3Harris Technologies to 'explore opportunities' to develop a new aircraft class — specifically, a gas-turbine hybrid vertical take-off and landing aircraft that can fly autonomously — for defense applications. The gas-turbine hybrid VTOL will be based on Joby's current S4 aircraft platform. The company has focused on developing the S4 with an all-electric powertrain, but it last year demonstrated under government contract a hydrogen-electric hybrid version that flew 521 miles — more than two times farther than its battery electric prototype. The agreement with L3Harris is exploratory, but the hope is that upcoming flights tests and operational demonstrations will lead to a military contract with the DoD. Joby said flight testing will start this fall, and operational demonstrations are expected in 2026. Joby has spent years developing and seeking Type 1 certification from the Federal Aviation Administration for its all-electric vertical take-off and landing aircraft, which will be used to shuttle passengers short distances in urban areas. It's also worked with the DoD at the development stage for nearly a decade. Through that relationship, Joby homed in on what it would take to get to the 'finish line' with the DoD, Joby executive chairman Paul Sciarra told TechCrunch. 'One was that range was especially important,' he said. 'We knew we had to make that shift.' Techcrunch event Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. San Francisco | REGISTER NOW Sciarra added it was also important to demonstrate the so-called 'missionization of its platform' — how its aircraft could be combined with the right sensors, autonomy, communications and payload to provide a clear use case for the DoD. 'We have two choices: either build a bunch of this stuff ourselves, or find an incredible partner that already has a deep understanding of those use cases and a ton of proven technology,' he said. That's where L3Harris comes in. Jon Rambeau, president of Integrated Mission Systems at L3Harris, said the new vertical lift technology will enable long-range, crewed-uncrewed teaming for a range of missions. In this case, the gas-turbine hybrid VTOL aircraft could be used for low-altitude support missions, which could include contested logistics, electronic warfare, and counter unmanned aircraft systems, or C-UAS, Sciarra said.
