Joby Aviation, Inc. (JOBY) is a transportation company that owns, manufactures, and operates aircraft. The Santa Cruz, Calif.-based company is developing an all-electric vertical take-off and landing (eVTOL) aircraft. The company delivers an application-based aerial ridesharing service directly to end-users, which is designed to help reduce urban congestion and accelerate the shift to sustainable transit modes.
A fully electric aviation future no longer seems like a distant dream as countries and airlines announce plans to introduce domestic electric flights. Last year, United Airlines Holdings, Inc. (UAL) announced its plans to purchase one hundred 19-seater ES-19 electric planes from Swedish startup Heart Aerospace. Many companies and startups are vying to grab a piece of the potentially highly lucrative emission-free commercial aircraft industry pie. However, not all companies are well-positioned to capitalize on the industry tailwinds. The industry faces the challenges of lengthy certification, technology development, and others. Due to these challenges, financially weak companies in this space might struggle to succeed.
