Joby Aviation Clears a Key Regulatory Hurdle and Could Be Worth Buying Now
Joby's eVTOL vision has never been closer to reality. Is it time to buy while the stock is still down?
Overview
Joby Aviation (NYSE: JOBY) has always had a bold, and seemingly sci-fi, vision. In a nutshell, it wants to operate flying taxis to cut down travel and commuting time in busy, congested cities. And while that vision still very much belongs to the future, it is getting close enough to touch.
Joby recently reported what it called "its strongest quarterly progress yet" in the fifth and final stage of the Federal Aviation Administration's type certification process. This fifth stage is the "Show & Verify" stage, and Joby has started doing exactly that: demonstrating, through FAA-reviewed testing, that its aircraft meet the requirements needed for certification. As of July 31, the company completed 20% of this fifth-stage work, whereas the FAA had finished 10% of of its corresponding labor.
Details
Don't miss the importance of this achievement. When Joby finishes this fifth stage, it will be in a position to receive FAA type certification for S4 -- the company's flagship electric vertical takeoff and landing (eVOTL) aircraft. In effect, completion of the process will clear one of the biggest hurdles toward commercializing its air taxi service in the U.S.
Source
Originally published at www.fool.com.