Joby Aviation Achieves Milestone with Hydrogen-Electric Air Taxi Flight, Stock Is Up

Joby Aviation, Inc JOBY announced it has successfully flown a first-of-its-kind hydrogen-electric air taxi demonstrator 523 miles, with water as the only by-product. The stock price gained after the update.

The aircraft, which takes off and lands vertically, builds on Joby’s battery-electric air taxi development program and demonstrates the potential for hydrogen to unlock emissions-free, regional journeys that don’t require a runway.

On June 24, Joby’s hydrogen-electric technology demonstrator aircraft completed a 523-mile flight above Marina, California, with no in-flight emissions except water.

JoeBen Bevirt, Founder and CEO of Joby, said: “Imagine being able to fly from San Francisco to San Diego, Boston to Baltimore, or Nashville to New Orleans without the need to go to an airport and with no emissions except water.”

Joby plans to start commercial operations as soon as 2025, using its battery-electric air taxi.

In June, Joby won approval from the Federal Aviation Administration (FAA) for its proprietary software suite, “ElevateOS,” which was meant to optimize air taxi operations.

Price Action: JOBY shares are trading higher by 14.7% to $5.953 at the last check Thursday.

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