Potential delivery of up to 200 electric aircraft valued at US$ 1bn over the coming years
Abdul Latif Jameel, and Joby Aviation, a company developing electric air taxis for commercial passenger service, are announcing the signing of a Memorandum of Understanding (MoU) to explore opportunities to establish a distribution agreement in the Kingdom for Joby’s electric aircraft.
Potential delivery of up to 200 Joby aircraft and related services valued at approximately $1 billion are expected by the businesses over the coming years. In the long-term, Abdul Latif Jameel and Joby also see potential revenue opportunities across the Middle East.
The direct sale of aircraft through businesses such as Abdul Latif Jameel forms one pillar of Joby’s commercialization strategy. Additionally, Joby will directly own and operate its aircraft and services in certain markets, like the United States, and partner for similar operations in other markets, such as Japan.
Extraordinary opportunity
“This collaboration is about bringing America’s leadership in electric air mobility to the world,” stated JoeBen Bevirt, Founder and CEO, Joby Aviation. “Together with Abdul Latif Jameel, we’re not just imagining a cleaner, safer, more efficient future—we’re building it. And there is no better partner to help unlock the extraordinary opportunity for air travel in the region,” he added.
“Saudi Arabia is transitioning toward a new era of mobility – one that is on-demand, shared, connected, and sustainable. eVTOL is an exciting and important component of this. We are looking forward to collaborating with Joby to support the transformation of the Kingdom’s mobility sector,” commented Hassan Jameel, Vice Chairman, Saudi Arabia, Abdul Latif Jameel.
