Company-Conforming Aircraft in Final Assembly
We recently began final assembly of what we believe to be the world's first company-conforming eVTOL aircraft.
The aircraft was built on our pilot production line in Marina, California, in accordance with released designs and under a complete implementation of a quality management system. We expect the aircraft to fly in the first half of the year.
Didier Papadopoulos, Head of Aircraft OEM at Joby, said: “Beginning final assembly of our first company-conforming aircraft is a critical achievement for Joby and a landmark for the wider eVTOL industry. It unlocks the path ahead and allows us to exercise our quality management system in preparation for type certification and a subsequent production certification."
"There is an incredible amount of work that goes into getting to this point and I’m very grateful for the energy and commitment of the team behind this achievement.”
On February 22, we released our fourth quarter and full year 2022 results.
A few highlights:
• In addition to completing Stage 2 of the FAA certification process, we made great progress on Stage 3, moving from 37% to 53% of our Certification Plans accepted by the FAA. This includes the submittal of four additional Area-Specific Certification Plans (ASCPs), bringing our total submitted to 8 out of 13.
• We successfully carried out numerous tests this quarter, including structural wing tests and propeller bird strike tests. We successfully completed temperature, humidity, radio-frequency, lightning, and thermal characterization testing on our battery module, having previously successfully completed drop testing.
• We completed initial power-on of our Integrated Test Lab, an in-house facility that replicates both the hardware and software on the aircraft, allowing us to generate critical data in support of type certification without leaving the ground.
• We ended Q4 this year on a strong financial foundation, with $1.1 billion in cash and short-term investments to support our operations.
Joby Achieves Milestone with First eVTOL Aircraft
Joby recently completed final assembly of the world's first company-conforming eVTOL aircraft in Marina, California. The aircraft is expected to take flight in the first half of the year. The company also reported several highlights in their Q4 and full year 2022 results, including completion of Stage 2 of the FAA certification process, various tests, and initial power-on of the Integrated Test Lab. Joby ended the quarter on a strong financial footing with $1.1 billion in cash.
