Flight Test Ahead as Q2 Financials Reported

Joby Aviation, the Santa Cruz, California, -based electric aircraft manufacturer, announced the third production prototype aircraft has been completed on the production line in Marina, California.

A fourth aircraft is expected to be finished in the coming weeks and its flight testing is expected to begin during Q4 of this year.

The company also issued its Second Quarter 2024 Shareholder Letter containing the financial and operational results for the period ending June 30, 2024. A live conference call was hosted on June 7 to discuss the results.

As put out by the company, the highlights for Q2 were:

• Production Ramp-Up. The first two production prototypes are in flight test now, and Company expects to have four aircraft in flight test during Q4.
• Certification Progress. Fourth of five stages now at 37% complete, progress expected to speed up during Q4.
• International Expansion. Certification applied for in Australia, MOU signed with Saudi Aramco subsidiary Mukamalah.
• Future Tech. Flew first-of-kind hydrogen-electric air taxi demo more than 550 miles, acquired autonomy division of Xwing, a leader in aviation autonomy tech development.
• Financial Foundation. Balance sheet in strong position with $825 million in cash.

FMI:  www.jobyaviation.com/news/