Air-Taxi Startup Hits Turbulence After “Experimental Prototype Aircraft Accident”

Joby Aviation, the maker of electric vertical takeoff and landing (eVTOL) air taxi craft, announced in a filing that one of its “experimental prototype aircraft was involved in an accident during flight testing at our remote flight test base in California.” 

The California-based eVTOL start-up said, “we have been expanding our flight envelope with a remote pilot and in an uninhabited area, especially as we operate outside expected operating conditions.” There were no reports of injures. 

Joby is preparing to revolutionize transportation in metro areas with its electric eVTOLs. The vehicles can transport a pilot and four passengers as far as 150 miles, reaching a top speed of 200 mph. 

Joby Aviation went public via a SPAC in August 2021. The deal to bring the start-up public was worth $4.5 billion. Shares in the company have slid more than 50% since the public debut. News of the crash sent prices down 6% on Thursday.  

The filing also noted that the company would be working with “relevant authorities” to investigate the accident. There have yet to be any mentions of what exactly went wrong, nor if commercialization timelines have been shifted due to safety concerns.