Joby Aviation Inc. (NYSE:JOBY) shares are rising after the company announced it has entered the final phase of certification for its electric air taxi.
The company recently conducted its first FAA testing under Type Inspection Authorization, marking a major milestone in the aircraft's certification process.
The testing involved FAA pilots evaluating human factors elements of flight safety using a Joby simulator with an FAA-conforming flight deck.
TIA is the final phase before the aircraft can begin commercial passenger operations and involves validating the aircraft's performance and safety according to previously-approved test plans.
"This milestone demonstrates Joby's continued industry leadership and is a reflection of the maturity of our test program and the rigorous company testing we've already completed," said JoeBen Bevirt, CEO and Founder at Joby Aviation.
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The company is targeting the start of TIA flight testing in 2025 with its first FAA-conforming aircraft, currently being built at Joby's facility in Marina, California.
Joby has already completed extensive testing, including 'for credit' testing of components and systems, and static load testing on its tail structure, marking another significant achievement.
Joby's electric air taxi is designed to carry a pilot and up to four passengers at speeds of up to 200 mph, offering high-speed mobility with minimal noise and zero emissions.
With over 40% of the fourth stage of FAA certification already completed, Joby continues to lead the eVTOL space, remaining on track to transform urban air mobility.
Price Action: JOBY shares are trading higher by 4.01% to $7.520 at last check Friday.
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Photo: Joby Aviation.
