First Look: Joby Aviation's electric VTOL taxi takes flight
Joby Aviation positions itself as premier air taxi start-up after successful flight trials and solid backing
Air taxis were all the rage in 2020, with Uber Elevate promising an operational air taxi trial in 2020. Even the Australian media lapped it up, but, quelle surprise, the concept died a quiet death. Clearly, Uber realised that the company’s focus should likely focus on profitability from its ride-share app.
Enter Joby Aviation, based in Santa Cruz, California. Founder and CEO JoBen Bevirt likes to fly under the radar, but is known for selling his previous company Velocity11, which is a leader in liquid-handling robots and lab automation.
Joby Aviation is likely on the cusp of purchasing Uber Elevate according to Axios, and their as-yet-unnamed aircraft is set to be the world’s first certified and operational electric airborne taxi thanks to some serious financial backing, and manufacturing support from Toyota.
Joby Aviation’s eVTOL taxi. Images: Joby Aviation
Joby Aviation has agreed on certification terms with the Federal Aviation Administration (FAA), and has received close to US$1 billion in funding from Toyota, Laurene Powell Jobs’ Emerson Collective and Capricorn Investment Group.
Joby has released the below videos to increase investor hype as it prepares to go public on the New York Stock Exchange with Special Purpose Acquisition Company (SPAC) Reinvent Technology Partners. The combined company will have a pro forma implied valuation of US$6.6 billion.
Six rotors and a 240 kilometre range.
The silent aircraft features five-seats, and can reach 322 km/h (200 mph) and travel 240 kilometres (150 miles using current battery technology) With six large tilting rotors to achieve vertical lift and horizontal winged cruise, its design has won praise from many aviation experts, and could genuinely revolutionise the way many people commute and travel. The reliability and simplicity of battery electric systems and electric motors will mean that manufacturing and maintenance costs will be low, and the silent flight would allow the Joby aircraft to operate in airspace helicopters can only dream about.
Bevirt hopes that rides will eventually cost the same as an Uber X, around US$2.50 per mile. Morgan Stanley estimates the air-transport category could generate $674 billion a year in fares worldwide by 2040, and Joby is planning to be ready, with construction beginning on a 450,000-square-foot manufacturing facility, designed in conjunction with Toyota, later in 2021.