Shares of Joby Aviation (NYSE:JOBY) are in the green after the electric vertical take-off and landing (eVTOL) company announced that its flight test program has now completed test flights with pilots on board. At the time of the announcement, four Joby pilots have completed test flights on Joby’s pre-production prototype aircraft. Joby’s previous test flights were mostly conducted remotely via a ground control station (GCS). These tests allowed the company to collect performance data for use in future tests.
Joby Chief Test Pilot James “Buddy” Denham led the pilot on-board campaign. Denham previously worked at the Naval Air Systems Command as an esteemed technical fellow before joining Joby. The campaign helped collect data “on the aircraft’s handling qualities and pilot control interfaces, supporting the development of the aircraft and laying the groundwork for future “for credit” testing as part of the company’s ongoing certification program with the Federal Aviation Administration (FAA).”
JOBY Stock: Joby Begins Pilot On-Board Flight Testing
Testing of the prototype aircraft included functions that pilots would normally perform during day-to-day operations, such as vertical takeoffs and runway centerline tracking. These actions, called mission task elements (MTEs), while help Joby in its efforts to achieve certification.
Last month, Joby announced that it had achieved the milestone of delivering the first electric air taxi to the U.S. Air Force at its Edwards Air Force Base. This was excellent news for shareholders, as it came six months ahead of the expected delivery date. In addition, the delivery was part of Joby’s existing $131 million AFWERX Agility Prime contract with the Air Force. At the Edwards base, Joby’s aircraft will be used for tasks such as cargo and passenger transportation. In early 2024, Joby expects to deliver another aircraft to the base.
If Joby is to succeed in the eVTOL industry, it needs a capable manufacturing facility. Joby already seems to have this planned out, as it selected Dayton, Ohio as the location for its first scaled manufacturing facility. If all goes to plan, the facility will have the capability to produce up to 500 aircraft per year. The company plans on investing up to $500 million in order to create the facility, which is estimated to create up to 2,000 jobs in the process.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
