Joby Aviation (NYSE:JOBY) stock is rising higher on Wednesday after the company announced a milestone in its process of obtaining certification from the Federal Aviation Administration (FAA).
According to a press release from Joby Aviation, the electric vertical take-off and landing (eVTOL) company has completed the third phase of the five-phase process of obtaining FAA certification.
The third phase of this process saw it submit data to the FAA concerning its plans for its eVTOL’s structural, mechanical, and electrical systems. It also covers its intentions for cybersecurity, human factors, and noise.
Didier Papadopoulos, President of Aircraft OEM at Joby Aviation, said the following in a news release:
“With all of our certification plans accepted by the FAA, we are now completely focused on the execution phase of the certification process. We have a clear path to certifying every aspect of our aircraft, and the team is full steam ahead on executing against that path as we continue to lead the industry to commercialization.”
JOBY Stock Movement Today
JOBY stock is getting a 3% boost on Wednesday after announcing its certification progress. That makes sense with the company getting closer to commercialization. It’s also worth mentioning that Joby Aviation is the first eVTOL company to complete this phase of the certification process.
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On the date of publication, William White did not have (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.
