Joby Aviation, Inc. (NYSE: JOBY) is making significant strides in its journey toward FAA certification, as its shares rise in premarket trading following the announcement of a major achievement.
The company has successfully completed a critical series of aerostructure tests for certification credit with the Federal Aviation Administration.
The successful static load testing of Joby's tail structure is a landmark event, marking the first time the company has conducted such a test with FAA representatives present.
This testing, conducted in Santa Cruz, California, is part of a comprehensive testing campaign covering all aspects of the aircraft, including structures, components, and systems.
The data gathered from these tests is crucial for the FAA's type certification process, which is a key step in bringing Joby's electric air taxi to market.
Didier Papadopoulos, President of Aircraft OEM at Joby, said it represents years of dedication from the company's engineering, testing, certification, and manufacturing teams.
"Our vertically-integrated approach to aircraft development gives us the capability to design, build, and test entire aerostructures in-house, providing Joby with a strong foundation to rapidly and efficiently continue to bring innovative technologies to market," Papadopoulos said.
Joby's electric air taxi, designed to carry a pilot and up to four passengers at speeds of up to 200 mph, aims to revolutionize urban mobility with zero emissions and a significantly quieter operation compared to traditional helicopters.
The completion of these tests marks a critical milestone toward the aircraft's full certification and eventual commercialization.
Price Action: JOBY shares are trading higher by 1.13% to $7.990 premarket at last check Tuesday.