Joby Aviation (NYSE:JOBY), a California-based company developing electric vertical take-off and landing (eVTOL) aircraft, has announced an expansion of its existing contract with the US Air Force’s Agility Prime program that increases the total potential value of the contract to more than $75 million.
The expanded contract will include new testing to evaluate Joby’s technologies, and also widens the company’s partnerships to include the US Marine Corps, which will participate in government-directed flight tests and use case exploration, including resupply, relocation of personnel and emergency medical response applications.
The Army, Navy, Air Force and Marine Corps have all now identified eVTOL aircraft as a critical area of interest.
In 2020, Joby earned military airworthiness approval for its pre-production prototype aircraft. With a maximum range of 150 miles, Joby’s piloted electric aircraft can quietly transport four passengers at speeds up to 200 mph.
Joby’s engagement with government partners supports the company’s primary goal of launching a commercial passenger service by providing access to testing facilities, early operational experience for government customers, and a partial offset to R&D costs.
“As we work toward our goal of launching a passenger ridesharing service, we’re grateful for the support of our defense partners,” said JoeBen Bevirt, founder and CEO of Joby. “This extension provides valuable support for our ongoing development efforts and allows our partners to see first-hand the potential for this aircraft.”
Source: Joby Aviation