Joby Aviation Inc., a leader in electric air taxi development, has released its Second Quarter 2025 Shareholder Letter, outlining operational and financial highlights for the quarter that ended on June 30, 2025. The company is gearing up for a significant milestone as it prepares to commence the final assembly of its first aircraft aimed at Type Inspection Authorization flight testing, with pilot operations expected to begin in 2025.
Key achievements in the quarter include achieving 70% completion of the company’s portion of the FAA’s type certification program, a 10% increase from the previous quarter. The FAA’s evaluation will be crucial for joby’s aircraft, ensuring it meets safety and performance standards required for commercial operation.
In a successful testing campaign in Dubai, Joby completed 21 full-transition flights, demonstrating its aircraft’s capabilities in real-world conditions and confirming its readiness for the commercial market. Additionally, the company has announced a collaborative venture with L3Harris to develop a gas turbine hybrid aircraft variant focusing on low-altitude defense capabilities, with flight testing set to start this fall.
Joby is also actively pursuing commercialization strategies, having entered into an agreement to acquire Blade Air Mobility’s passenger business. This acquisition will enhance Joby’s access to key urban markets and infrastructure, particularly in New York City and Southern Europe. New partnerships with Abdul Latif Jameel and ANA aim to facilitate deployments of approximately 300 aircraft.
Financially, Joby concluded the quarter with a robust balance sheet, reporting $991 million in cash and investments, underpinned by a $250 million investment from Toyota. The company is expanding its manufacturing capabilities, increasing production capacity at its California site to 24 aircraft per year, while a renovated facility in Dayton, Ohio aims to support a future production capacity of up to 500 aircraft annually.
JoeBen Bevirt, founder and CEO of Joby, emphasized the pivotal nature of this moment in the company’s journey, noting that regulatory advancements worldwide are opening market access and their commercialization strategy is gaining momentum.
This progress signals a hopeful future for urban air mobility, showcasing how Joby Aviation is poised to revolutionize transportation and address urban congestion challenges through innovative air taxi services.
As the aviation landscape evolves, Joby’s developments could usher in a new era where aerial transportation becomes a commonplace reality, ultimately benefiting urban populations globally.