Rumors took flight this week of a possible IPO for Joby Aviation. See the Reuters article below. The story continues to gain altitude by other news sources.

DroneDJ

Will Joby go public? 

In a recent Reuters exclusive, the news agency reported that Joby was exploring options to take the firm public. Reuters said it was looking at a merger with “a blank-check acquisition firm at a valuation of around $5 billion, according to people familiar with the matter.”

It’s far from clear there will be a deal, and Joby declined comment to Reuters. But in 2020, the company was valued at $2.6 billion. Its backers include heavyweights Toyota Motor Corp. and Intel. Plus, it’s in a sector with huge growth potential.

That’s some eVTOL

The design features six articulating motors that are used to achieve vertical take-off, and then transition for forward flight. In 2020, the US Air Force granted Joby Aviation its first-ever eVTOL airworthiness certification – a huge milestone.

The aircraft can handle four passengers and is capable of cruising at 200 mph (320 kph). It has a range in excess of 150 miles (240 kilometers), with zero carbon emissions. 

“The cornerstone of our vision is our aerial ridesharing service, combining the ease of conventional ridesharing with the power of flight. At the touch of an app, you’ll be able to book a green alternative to driving that’s substantially quicker, yet surprisingly affordable.” Joby website

Super quiet

Joby has apparently put a ton of effort into reducing the aircraft’s noise signature. This is a very smart move; urban residents may be used to city noise, but there would be pushback against noisy flights over residential areas. If you look at the image above, you’ll notice a deflection at the propeller tips.

“The aircraft made only a partially perceptible sound that, in this editor’s view, would almost certainly be undetectable against the everyday noise background of an urban environment.” Guy Norris / Aviation Week

Reuters

Electric passenger aircraft developer Joby Aero Inc is exploring a deal to go public through a merger with a blank-check acquisition firm at a valuation of around $5 billion, according to people familiar with the matter.

Joby has hired investment banks to solicit interest from so-called special purpose acquisition companies (SPACs) about a potential deal, the sources said.

The sources requested anonymity because the discussions are confidential and cautioned that no deal is certain. Joby declined to comment.