Joby Aviation May Launch Flying Taxis By 2025 - What's Going On?
Portfolio Pulse from Nabaparna Bhattacharya
Joby Aviation, Inc. (NYSE:JOBY) is planning to launch flying taxis by 2025 with support from Toyota Motor Corporation (NYSE:TM) and Delta Air Lines, Inc. (NYSE:DAL), aiming to offer commutes from downtown Manhattan to JFK Airport in under seven minutes. The company's eVTOLs are backed by $400 million from Toyota and $60 million from Delta. The FAA suggests a competitive air taxi market might be more realistic by 2028. Joby's stock is trading lower in the premarket session, and investors can also gain exposure through ALPS Clean Energy ETF (NYSE:ACES) and First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN).
April 16, 2024 | 1:19 pm
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POSITIVE IMPACT
Delta Air Lines, Inc. invests $60 million in Joby Aviation's eVTOL project, aiming to enhance future travel options.
Delta's investment in Joby Aviation could signal a strategic move to diversify travel options and adapt to future transportation trends, potentially attracting positive investor attention.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Toyota Motor Corporation supports Joby Aviation's flying taxi initiative with a $400 million investment, aiming to revolutionize urban commutes.
Toyota's significant investment in Joby Aviation's innovative eVTOL project could reflect positively on Toyota's commitment to future mobility solutions, potentially boosting investor confidence.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
NEUTRAL IMPACT
Investors can gain exposure to Joby Aviation through ALPS Clean Energy ETF, which includes JOBY in its portfolio.
While ACES includes JOBY in its portfolio, the direct impact of Joby Aviation's news on ACES may be diluted due to the diversified nature of the ETF's holdings.
CONFIDENCE 60
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
First Trust NASDAQ Clean Edge Green Energy Index Fund is another ETF that provides investment exposure to Joby Aviation.
QCLN's inclusion of JOBY stock means the ETF's performance may be indirectly influenced by Joby Aviation's developments, though the impact is likely to be moderate given the ETF's broad portfolio.
CONFIDENCE 60
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Joby Aviation plans to launch flying taxis by 2025, with significant investments from Toyota and Delta, aiming for a quick NYC commute. However, the FAA sees a competitive market by 2028, and the stock is trading lower premarket.
The news of a potential delay in the competitive market readiness as suggested by the FAA, combined with the current premarket stock dip, indicates a short-term negative impact on JOBY's stock price.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100