Joby Aviation Launches $200M Stock Offering to Fund 2025 Air Taxi Rollout

Electric air taxi startup Joby Aviation has launched a $200 million public offering to support its goal of rolling out commercial eVTOL (electric vertical takeoff and landing) services by 2025. The company announced in a regulatory filing that the funds will be directed toward certification, manufacturing, and general operations, supplementing its existing cash reserves.

Joby is also granting underwriters a 30-day option to purchase an additional $30 million in stock. The funds will help Joby navigate the rigorous FAA type certification process, ensuring its eVTOL aircraft meets all safety and airworthiness standards before entering the skies. This follows recent progress in the U.S. as the Federal Aviation Administration (FAA) introduced new guidelines for eVTOL integration, paving the way for these vehicles to share airspace with helicopters and planes.

With backing from partners like Delta Air Lines and Uber, Joby aims to bring air taxis to New York City, Los Angeles, Dubai, and Abu Dhabi. The company also holds a $131 million contract with the Department of Defense, further bolstering its operations. Earlier this month, Joby received a $500 million boost from investor Toyota, raising its total funding to $2.6 billion, according to PitchBook.

While Joby remains tight-lipped on the public offering’s details, the company is moving forward confidently with its ambitious plans to revolutionize urban air mobility, potentially transforming how people travel in congested cities worldwide.