By Valerie Insinna WASHINGTON - Electric aircraft maker Joby Aviation will invest up to $500 million to build a new facility in Dayton, Ohio, where it will mass produce air taxis, it said onaFrite Restaurant's Fight for Survival: little Halifax versus Halifax's little Toronto | SaltWireWASHINGTON - Electric aircraft maker Joby Aviation will invest up to $500 million to build a new facility in Dayton, Ohio, where it will mass produce air taxis, it said on Monday.
Joby founder JoeBen Bevirt told Reuters that the company is"driving vigorously" to win Federal Aviation Administration certification for its electric vertical takeoff and landing aircraft so that it can begin commercial passenger service in 2025. Bevirt declined to comment on initial production rates and how much funding would be immediately allocated to construct the Dayton facility. The state of Ohio and several political organizations have offered up to $325 million in incentives and benefits to develop the Dayton site, Joby said.
Unlike eVTOL competitors like Archer Aviation and Beta Technologies, which intend to sell aircraft directly to airlines and logistics companies, Joby's business model more closely resembles rideshare apps, where customers can request a ride on an air taxi owned and operated by the company.
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