Joby Aviation saw its stock surge by around 12 percent after the company announced the delivery of its first electric air taxi to the United Arab Emirates. The move marks a major milestone as the company prepares to launch its flying taxi service in the region by 2026.
The electric vertical takeoff and landing aircraft, or eVTOL, has already completed piloted test flights in the UAE. “Our flights and operational footprint in Dubai are a monumental step toward weaving air taxi services into the fabric of daily life worldwide,” said founder and CEO JoeBen Bevirt. He described the UAE as a “launchpad for a global revolution in how we move.”
Joby’s entry into the UAE market was announced in February 2024 through an agreement with Dubai’s Road and Transport Authority. The deal grants the company exclusive rights to operate air taxi services in Dubai for six years.
In preparation, Joby began constructing a vertiport at Dubai International Airport and has plans to build three more at Palm Jumeirah, Downtown Dubai, and the Marina area. The company also signed an air taxi agreement with three government departments in Abu Dhabi during 2024.
The California-based firm is expanding its presence in the Middle East. Earlier this year, Saudi Arabia’s Abdul Latif Jameel announced a major investment of nearly $1 billion for up to 300 of Joby’s eVTOLs. The same firm had also backed Joby during its Series C funding round.
So far in 2025, Joby Aviation’s shares have climbed over 32 percent, bringing its market value to more than $9 billion. The growing demand for flying taxis is driven by their potential to ease traffic congestion and reduce emissions, although the sector still faces significant regulatory and safety challenges.
Earlier in June, President Donald Trump signed an executive order that included a pilot program for testing electric air taxis, further boosting interest in this emerging mode of transport.
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