Mentioned:
Dubai has fully embraced electric air taxis as the future of transportation. And Joby Aviation is getting closer to actually making it happen.
What’s happening:
- Joby Aviation (NYSE: JOBY) has officially begun construction of their electric air taxi vertiport located at the Dubai International Airport
Why it matters:
- This is one of the world’s first large scale infrastructure projects focused on implementing electric air taxis for urban transportation in a major city
By the numbers:
- The new vertiport being built by Joby Aviation is 3 stories and spans 3,100 square metres
- Joby Aviation has the exclusive rights to being the primary air taxi operator in Dubai for 6 years
- Following the successful completion of the project, Joby Aviation and the government of Dubai plan to build 4 more vertiport locations to other regions in Dubai
Going deeper:
- Toyota previously made waves when they doubled down on their investment in Joby Aviation with a new half a billion dollars in funding
The intrigue:
- Airline companies have also been starting to show excitement about electric air taxis, with Southwest Airlines (NYSE: LUV) previously cutting a deal with Archer Aviation (NYSE: ACHR) to build out regional networks within California to make air taxi transportation more accessible
