Signage is seen on the Joby Aviation Air Taxi outside the New York Stock Exchange in Manhattan, New York City, U.S., August 11, 2021. REUTERS/Andrew Kelly/File Photowill deliver up to nine air taxis to the U.S. Air Force under a $55 million contract extension that marks the company’s first revenue-generating operations, the company announced on Tuesday.
The contract affords an opportunity for the California-based startup to test its proposed pilot training regime, maintenance processes and charging infrastructure ahead of the expected start of commercial operations in 2025, Joby Executive Chairman Paul Sciarra said. The Air Force is exploring eVTOL aircraft as a potential option to conduct certain air logistics tasks typically performed by helicopters, but at lower costs and without the need to stockpile fuel.
Unlike other eVTOL manufacturers, which plan to sell aircraft to customers such as airlines and logistics companies, Joby’s business model is similar to a rideshare app, with customers paying to be transported in an air taxi owned and operated by the company.