Overview

• Joby signed a non-binding memorandum of understanding with Abdul Latif Jameel to explore distribution of up to 200 electric vertical takeoff and landing aircraft valued at about $1 billion.
• The partnership could accelerate Joby’s revenue path by leveraging ALJ’s eight-decade-old infrastructure for sales, pilot training and maintenance.
• Joby shares surged over 13 percent to $8.47 in early trading after the announcement of the potential deal.
• The agreement aligns with Saudi Arabia’s Vision 2030 and builds on Toyota’s existing investment and distribution ties in the region.
• Joby plans to launch commercial air taxi operations in Dubai by early 2026 and is awaiting FAA approval to expand services in the United States.