Page 7 - AAA NOV / DEC 2024 Digital Magazine | GBP
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successfully completing the
first ever test flight of a hydro-
gen-electric air taxi demonstrator;
a converted pre-production pro-
totype battery-electric aircraft
fitted with a liquid hydrogen fuel
tank and fuel cell system flew 523
miles and landed with 10% of its
hydrogen fuel load remaining.
The flight, which demonstrated
the potential for hydrogen to
make regional travel possible for
VTOLs, is likely to spur similar
experiments by other companies
in the AAM sector.
Even as moves ahead with the
certification process and works on
developing its eVTOL, Joby has
been trying to be a major player
US$500 million in Joby to support Stellantis, which invested US$110 in many of the markets where
certification and commercial pro- in Archer Aviation in 2023, pur- AAM is poised to take off. In
duction efforts. The investment, chased US$39 million worth of September this year, Joby initi-
which will be made in two equal Archer stock earlier this year, ated steps to become a certified
tranches – one this year and the before investing another US$55 air taxi operator in the United
other in 2025- brings Toyota’s total Million in the eVTOL company Arab Emirates. In August, Joby
investment in Joby to US$894 after its Midnight eVTOL com- signalled its intention to enter
million. pleted a flight test milestone. the Australian market by apply-
Archer, which is set to complete its ing to the country’s Civil Aviation
“With this additional invest- high-volume manufacturing facility Safety Authority (CASA) for the
ment, we are excited to see in Georgia before the end of the validation of an FAA type certifi-
Joby certify their aircraft and year, is now seeking shareholder cation for its eVTOL. In February,
shift to commercial produc- approval for up to US$400M of the company signed a definitive
tion,” said Tetsuo “Ted” Ogawa. additional capital from Stellantis to agreement with Dubai’s Road
“We share Joby’s view that help scale the manufacturing of its and Transport Authority (RTA) to
sustainable flight will be central eVTOL aircraft. launch air taxi services in Dubai,
to alleviating today’s persistent and followed it up in April with
mobility challenges.” Joby on the Move a multilateral Memorandum of
In July, Embraer subsidiary Eve Even though funding has been Understanding (MoU) with the
Department of Municipalities and
Air Mobility announced US$94M hard to come by, eVTOL com- Transport - Abu Dhabi (DMT),
in new equity financing from panies are making progress the Abu Dhabi Department of
multiple investors, including when it comes to development Economic Development (DED)
Embraer, Nidec and other finan- of aircraft and certification. Joby and the Department of Culture
cial investors. In October, Eve recently rolled its third aircraft off and Tourism - Abu Dhabi (DCT
secured an US$88 million loan its pilot production line in Marina, Abu Dhabi).
agreement with Brazil’s National California, and broke ground on
Development Bank (BNDES) to an expanded facility in California The U.S. company will start
fund the development of the com- that will more than double its man- commercial operations with
pany’s eVTOL production facility ufacturing footprint. In August this piloted flights, but has already
in São Paulo, Brazil. The com- year, it confirmed that the fourth of initiated steps to move closer to
pany has also received a US$50M five stages of the type certification autonomous flight. In June, Joby
loan from Citibank to propel its process is now more than one- announced that it had acquired
certification and aircraft production third complete. Xwing, a company that devel-
efforts.
In July, Joby made news by ops autonomous technology for
ASIAN AIRLINES & AEROSPACE NOVEMBER - DECEMBER 2024 | 7
