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Flying-Taxi Startup Joby Slumps After Test-Flight Accident

Aircraft was remotely piloted; company says no one was injured
NTSB investigating after plane suffered ‘substantial damage’

A Joby Aviation aircraft outside the New York Stock Exchange during the company’s initial public offering in New York, in Aug. 2021.Photographer: Michael Nagle/Bloomberg

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By Thomas Black and Alan Levin

February 17, 2022 at 10:06 AM EST

Updated on

February 17, 2022 at 12:22 PM EST

This article is for subscribers only.

Joby Aviation Inc., a startup vying to be among the first to fly a new class of electric air taxis, said one of its aircraft was involved in an accident, sending the shares tumbling.

The Feb. 16 incident involved a remotely piloted prototype at the company’s test base in California, according to a regulatory filing. There were no injuries, the company said without detailing the specifics of the accident.