Mentioned:
Electric air taxis are coming soon to airports in the United Kingdom.
What’s happening:
- Joby Aviation (NYSE: JOBY) and Virgin Atlantic have entered into a new partnership focused on bringing Joby Aviation’s electric air taxis to travellers in the United Kingdom
How it works:
- Virgin Atlantic plans to initially offer passengers landing in Heathrow and Manchester airports the ability to take a short flight on Joby Aviation’s electric air taxis to commute to nearby regional cities
- Travellers will be able to directly book Joby Aviation’s electric air taxis directly within the Virgin Atlantic mobile app
Why it matters:
- This is one of the first major partnerships between an airline company and an electric air taxi company to ever happen in the United Kingdom
Going deeper:
- Joby Aviation already has an existing partnership with Delta Air Lines, who owns a 49% equity stake in Virgin Atlantic
- Multiple notable investors have poured capital into Joby Aviation to advance their zero emission electric air taxi technology, including Toyota Motor Corporation (NYSE: TM) previously injecting half a billion dollars into Joby Aviation through an equity financing round
The fine print:
- It has not yet been publicly announced when Joby Aviation’s electric air taxis will officially begin flying in the United Kingdom
