Joby Claims Lead in eVTOL Gold Rush With Wall Street Flotation
The California-based company is the first of several leading advanced air mobility start-ups going public via a merger with a special purpose acquisition company.
Joby Aviation has become the first U.S.-based eVTOL aircraft developer to go public with a flotation on the New York Stock Exchange (NYSE). The share flotation under the symbol JOBY happened on August 11, just under a week after an extraordinary general meeting approved the California-based start-up’s merger with special purpose acquisition company Reinvent Technology Partners.
The fresh capital will support Joby’s plans to complete the type certification of a four-passenger all-electric eVTOL. The aircraft will have a single pilot, operating on routes of up to 150 miles and with a cruise speed of around 200 mph. The company transported one of its prototypes from California to New York to display it outside the NYSE building.
