Hyperdrive
Joby's Flying Taxi Is Closer to Reality With Production, Expanding Testing
- Shares jump as firm gets FAA approval for more flight tests
- Company is part of sector trying to transform transportation
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Joby Aviation Inc. jumped 40% Wednesday after a crucial green light from US 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.