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Tribune News Service
Tribune News Service
Business
Ed Ludlow, Eari Nakano

Joby's flying taxi is closer to reality with production, expanding testing

Joby JoeBen Bevirt Joby Aviation Inc Toyota

Joby Aviation Inc. jumped 40% Wednesday after a crucial green light from U.S. regulators in its quest to build electrically powered air taxis.

The company, based in Santa Cruz, California, said in a statement that the go-ahead from the Federal Aviation Administration will let it test flying taxis coming off its production line; it previously could only demo a prototype made by hand. Joby showed off the first aircraft from its manufacturing facility at a media event.

“This is a huge moment,” Joby Chief Executive Officer JoeBen Bevirt said on Bloomberg TV from the factory in Marina, California.

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