Latest news with #Joby
Yahoo
3 hours ago
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Why Joby Stock Is Flying High Today
Joby and its peers are rallying on a White House executive order designed to accelerate the development of eVTOL technology. The company appears to be a leader in the race to market, but investors should understand there are risks that come with pre-revenue companies. 10 stocks we like better than Joby Aviation › So-called "flying taxis" are going mainstream, and investors are rushing into shares of the early market leaders. Joby Aviation (NYSE: JOBY) stock traded up as much as 14.9% at the market open and were up 8.6% as of 10:30 a.m. ET after President Donald Trump signed an executive order aiming to "unleash" development of the company's new flying machines. Joby is one of a handful of aerospace companies racing to bring electric aircraft capable of vertical takeoffs and landings, or eVTOLs, to market. It takes time for new designs to win Federal Aviation Administration (FAA) approval, but if all goes well, Joby and rival Archer Aviation could have air taxis in the air as soon as next year. Late Friday, investors got a look at the potential market for the eVTOLs once they are approved for takeoff. President Trump signed an executive order aimed at "unleashing American drone dominance," which included a mandate that the Department of Transportation advance eVTOLs. Within 180 days, according to the order, Transportation is to select "at least" five pilot projects that plan to begin eVTOL operations, including advanced air mobility, medical response, cargo transport, and rural access. There is still a lot that must go right for Joby, including winning FAA certification and proving it can manufacture its aircraft at scale. And Joby already had several customers lined up, including a high-profile deal announced last week with Saudi Arabia to distribute its aircraft there. Still, the executive order points to the potential of these aircraft to disrupt existing technologies. Joby carries a market capitalization of more than $7 billion, a lot for a pre-revenue company. But the potential is there. For investors excited about the technology and willing to carry some risk in a diversified portfolio, Joby looks like the leader of the eVTOL pack. 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 $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor's total average return is 792% — a market-crushing outperformance compared to 173% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Lou Whiteman has positions in Joby Aviation. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Joby Stock Is Flying High Today 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
6 hours ago
- Business
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Abdul Latif Jameel and Joby Agree to Explore Opportunities for Electric Aircraft in Saudi Arabia
Aim to enable fast, clean, quiet and affordable commercial passenger transportation in Saudi Arabia 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, Calif. & JEDDAH, Saudi Arabia, June 03, 2025--(BUSINESS WIRE)--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 Important Notice: Copyright Notice & Disclaimer © Abdul Latif Jameel Co. Ltd. All rights reserved. The Abdul Latif Jameel name and the Abdul Latif Jameel logotype and pentagon-shaped graphics are trademarks or registered trademarks of Abdul Latif Jameel IPR Company Limited. The term "Abdul Latif Jameel" refers broadly to several distinct, separate, and independent legal entities. Abdul Latif Jameel is not itself a corporate entity, association or conglomerate run by an overarching parent company but merely refers to a network of distinct and wholly separate legal entities that are collectively referred to under the brand name 'Abdul Latif Jameel.' Abdul Latif Jameel is not a 'corporate group' as defined in Section 1161(5) of the UK Companies Act 2006, or 'conglomerate' as defined in Section 7, US Clayton Act 1964. Forward Looking Statements This document contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the development and performance of Joby's aircraft, the growth of Joby's manufacturing capabilities, regulatory outlook, progress and timing, including Joby's expectation to carry its first passengers in Dubai in 2026; Joby's business plan, objectives, goals and market opportunity; plans for, and potential benefits of, strategic partnerships, including the potential sale of up to 200 aircraft and related services valued at approximately $1 billion under the proposed partnership with between Joby and Abdul Latif Jameel. Forward-looking statements are statements regarding matters other than historical fact, such as future results, events, activities, developments or circumstances or the beliefs, plans or expectations of Joby, the Abdul Latif Jameel entities or their respective managements. Forward-looking statements often can be identified by the use of words such as 'expect', 'project', 'anticipate', 'plan', 'estimate', 'believe', 'predict', 'intend', 'potential', 'possible', 'probable', 'likely', 'forecast', 'guidance', 'outlook', 'goal', 'target', 'may', 'will', 'should' or 'could' or other similar terms or phrases. However, the absence of such words does not mean that a particular statement is not forward looking. Forward-looking statements are based on expectations and assumptions at the time of such statements and are subject to numerous risks and uncertainties, many of which are outside the control of Joby and Abdul Latif Jameel entities. These risks and uncertainties include Joby's ability to launch its air taxi service and the growth of the urban air mobility market generally; its ability to produce aircraft that meet its performance expectations in the volumes and on the timelines that it projects; complexities related to obtaining certification and operating in foreign markets; Joby's ability to negotiate definitive agreements related to the partnership with Abdul Latif Jameel; the competitive environment in which Joby operates; its future capital needs; its ability to adequately protect and enforce its intellectual property rights; uncertainties related to estimates of the size of the market for Joby aircraft and services; and other important factors discussed in the section titled "Risk Factors" in Joby's Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the "SEC") on February 27, 2025, its Quarterly Report on Form 10-Q filed with the SEC on May 8, 2025, and in future filings and other reports Joby files with or furnishes to the SEC. Should any of such expectations or assumptions prove incorrect, or should any of such risks or uncertainties materialize, actual future results, events, activities, developments or circumstances may differ materially from those expressed in or implied by forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and neither Joby nor Abdul Latif Jameel assume, and each hereby disclaims, any obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise. All forward-looking statements made by Joby, Abdul Latif Jameel, or by any person on behalf of any of them, whether communicated in writing, electronically or orally, are qualified in their entirety by the foregoing cautionary statements. No Offer or Solicitation This communication is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or an exemption therefrom. View source version on Contacts Investors: investors@ Media: Charles Stewartpress@ Abdul Latif Jameelmedia@ Sign in to access your portfolio
Yahoo
6 hours ago
- Business
- Yahoo
Why Joby Aviation Stock Is Climbing Today
June 3 - Joby Aviation (NYSE:JOBY) shares surged more than 10% Tuesday morning after the company signed a memorandum of understanding with Abdul Latif Jameel to explore a potential distribution agreement in Saudi Arabia for its electric aircraft. Warning! GuruFocus has detected 2 Warning Signs with JOBY. The deal is aligned with broader efforts between the U.S. and Saudi Arabia to strengthen ties in advanced transportation and innovation. The companies said the partnership could lead to the delivery of up to 200 aircraft and services over the coming years, valued at roughly $1 billion. Joby said direct sales to partners such as Abdul Latif Jameel form a key part of its go-to-market strategy. Its all-electric, piloted aircraft seats four passengers and is designed for urban air mobility at speeds up to 200 miles per hour, while producing less noise than helicopters and zero operational emissions. Looking ahead, Joby plans to begin passenger services in Dubai by 2026. The companies also see potential for expanded revenue opportunities across the wider Middle East region. This article first appeared on GuruFocus.
Yahoo
4 days ago
- Business
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Joby Aviation stock keeps rising on news that it will ‘explore opportunities' to supply flying taxis to Saudi Arabia
Shares in Joby Aviation (NYSE: JOBY) jumped yesterday after the air taxi company announced a potential deal with the Saudi Arabia-based Abdul Latif Jameel. The deal could lead to Joby supplying up to 200 of its eVTOL aircraft. Here's what to know about the potential and its effect on Joby's stock price. The household auto fleet is a money pit Why AI Is Making 1:1 Meetings Irrelevant Where are the wildfires in Canada? Maps pinpoint the location of fires and air-quality threats from smoke Joby Aviation, better known as Joby, is a Santa Cruz, California-headquartered aviation company that is developing a fleet of electric vertical takeoff and landing (eVTOL) vehicles—in other words, flying taxis. Joby was founded in 2009 and went public on the New York Stock Exchange in 2021 via a special purpose acquisition company, or SPAC. Prior to its NYSE debut, Joby was named one of Fast Company's Most Innovative Companies for 2021. While the company is developing flying taxi vehicles, one of its primary aims is to become a service—an Uber of the skies, so to speak. Because of its relatively small market cap of around $6.7 billion and interesting futuristic product (a flying rideshare service), Joby's stock is somewhat popular with investors who lean more toward dabbling in meme stocks and small-cap stocks that have potential to see sky-high returns if their products eventually take off (no pun intended). Joby says it currently has 'strategic partnerships' with Toyota, Delta, and Uber, and it employs more than 1,700 engineers. For its Q1 2025, which ended March 31, Joby reported a net loss of $82.4 million. Yesterday, Joby Aviation announced a potential deal with Abdul Latif Jameel, a business based in Saudi Arabia. Potential is the key word here. That's because the two companies didn't actually agree to sell anything to or buy anything from one another. Instead, they signed a Memorandum of Understanding (MoU). This MoU will see the companies 'explore opportunities to establish a distribution agreement in Saudi Arabia for Joby's electric aircraft,' according to Joby. That potential distribution agreement may see Joby deliver up to 200 air taxis and other related services valued at up to $1 billion to Abdul Latif Jameel 'over the coming years.' Joby has positioned the potential deal as a win-win for both American and Saudi Arabian business interests. 'This collaboration is about bringing America's leadership in electric air mobility to the world,' Joby Aviation CEO JoeBen Bevirt said in a statement announcing the deal. Given that Joby has recently been worth about $6 billion in total, it's no wonder the company's stock jumped yesterday after it announced it was exploring a single deal worth up to $1 billion. By the close of the market yesterday, JOBY stock had risen over 7% to $8.03 per share. In premarket trading this morning, as of the time of this writing, JOBY stock is up another 2%. However, while JOBY stock has been flying high over the past two days, it's important to put the stock's past performance into perspective. Despite JOBY's stock price surge in the last 24 hours, the company's stock was still down year-to-date by 1.23% as of yesterday's close. At the same time, when you look at the last 12 months, JOBY shares have had a significant return. Since last June, the stock has risen nearly 65%. Where the stock goes from here is anyone's guess. However, the company has had some exciting advances in recent years. In February 2024, Joby announced that it plans to launch an air taxi service in Dubai by 2026, and in October 2024, Joby showed off one of its air taxis to much fanfare in New York's Grand Central Station. The company said that an air taxi could carry up to 1,000 pounds of payload/people, had a range of 100 miles, and could reach speeds up to 200 mph. This post originally appeared at to get the Fast Company newsletter:
Yahoo
4 days ago
- Business
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Joby Aviation Stock Jumps on Agreement to Explore $1B Saudi Arabia Launch
Joby Aviation shares rose Tuesday after announcing a partnership with Saudi Arabian conglomerate Abdul Latif Jameel. The companies will "explore distribution and sales collaborations" and the potential launch of Joby's air taxi services in Saudi Arabia. Joby said it still expects to carry passengers in Dubai sometime in of Joby Aviation (JOBY) jumped on Tuesday after the electric air taxi maker announced a deal with Saudi Arabian investment conglomerate Abdul Latif Jameel. The companies have signed a memorandum of understanding to "explore opportunities to establish a distribution agreement in Saudi Arabia for Joby's electric aircraft," per a Tuesday press release. The sides laid out potential targets of 200 aircraft and other services valued at about $1 billion to be delivered in the coming years. They also said they see "potential revenue opportunities across the Middle East" in the long term. The partnerships will begin in Saudi Arabia to "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 continues to expect its first passengers will be carried in Dubai in 2026. Abdul Latif Jameel has also participated in previous investing rounds for Joby, the company said. Shares of Joby were up 9% in Tuesday trading after recently pulling back from a rally sparked by the announcement of a $250 million investment from Toyota Motor (TM). Read the original article on Investopedia
