Joby Aviation Inc (NYSE:JOBY) shares are gaining on Wednesday after the company revealed it started power-on testing of the first of multiple FAA-conforming aircraft to be constructed for Type Inspection Authorization (TIA).
What Happened: Joby Aviation, a company developing electric air taxis for commercial passenger service, announced it has started power-on testing of the first of multiple FAA-conforming aircraft designated for Type Inspection Authorization. This milestone enables Joby to begin conducting thousands of hardware and software integration tests in preparation for “for credit” flight testing with FAA test pilots operating the aircraft.
