Joby Delivers First eVTOL Aircraft To Edwards Air Force Base Ahead Of Schedule; Delivery Is Part Of Joby's $131M Contract With The DOD
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Joby Aviation, Inc. (NYSE:JOBY) has delivered its first electric vertical take-off and landing (eVTOL) aircraft to Edwards Air Force Base, six months ahead of the expected 2024 delivery date. The delivery is part of Joby's $131 million contract with the Department of Defense (DOD). The aircraft will be used for logistics missions, including cargo and passenger transportation. Joby's work with the DOD represents a total potential contract value of $163 million. A second aircraft is planned to be delivered in early 2024.
September 25, 2023 | 12:04 pm
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POSITIVE IMPACT
Joby Aviation's early delivery of its first eVTOL aircraft to Edwards Air Force Base, as part of a $131 million contract with the DOD, could positively impact its stock price.
Joby Aviation's early delivery of its first eVTOL aircraft demonstrates the company's ability to meet and exceed expectations, which could increase investor confidence and positively impact its stock price. Additionally, the company's ongoing work with the DOD, representing a potential contract value of $163 million, could provide a significant revenue stream.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100