Joby Aviation Inc. has completed its merger with Reinvent Technology Partners, a special purpose acquisition company. The combined company is now listed on the New York Stock Exchange for public trading under the ticker symbols “JOBY” and “JOBY WS,” respectively. JetBlue Technology Ventures (JTV), the corporate venture capital subsidiary of JetBlue Airways, made the announcement about its portfolio company Wednesday.
“We’re incredibly proud of the Joby team for all of the hard work that led to this moment and look forward to following their success for years to come. Joby’s product will transform the way that people move about urban environments every day, and also solve rising traffic congestion and vehicle pollution within connected cities,” said Amy Burr, president of JetBlue Technology Ventures.
Joby is building a fully electric vertical takeoff and landing (eVTOL) passenger aircraft that it intends to operate for commercial use in the U.S. beginning in 2024. The piloted, four-passenger aircraft travels at speeds up to 200 miles per hour, flies 150 miles on a single charge, and will be significantly quieter than existing rotorcraft or small planes during takeoff and landing.
“Aviation connects the world in critically important ways, but today it does that at the expense of our planet. By taking Joby public we have the opportunity to drive a renaissance in aviation, making emissions-free flight a part of everyday life. This is our generation’s moonshot moment, and at Joby we’re proud to be leaning in,” said JoeBen Bevirt, founder and CEO at Joby.
