Asia tech stocks slide tracking Wall St losses amid AI doubts, govt. uncertainty
Investing.com -- According to a recent article by The Information, JoeBen Bevirt, founder of Joby Aviation (NYSE:JOBY), asserts that the era of flying cars is imminent. By next year, his company plans to initiate commercial passenger service in cities like Dubai, New York, and Los Angeles.
The publication highlighted Joby Aviation’s commitment to this vision through a recent test flight in Dubai and its announcement to double aircraft production capacity in Marina, California. Bevirt likened the current stage of flying cars to the early automotive industry, “when we were still hand-building cars, and cars were produced in the tens and hundreds,” he told The Information.
Despite the promising advancements, Bevirt remains grounded by challenges related to regulatory approvals. The company has been navigating the Federal Aviation Administration’s rigorous certification process since 2018 and is in the penultimate phase of securing approval.
The Information details Bevirt’s view of the regulatory hurdle as significant but not insurmountable. “The mountain we’ve been climbing,” he stated, highlighting the substantial progress made while acknowledging the extensive endeavor it entails.
Geopolitical shifts may expedite Joby’s path as electric air taxis gain recognition as a strategic industry. Recent executive orders from the US and China emphasize the integration of these technologies into what’s being termed the "low-altitude economy."
Bevirt seems cautiously optimistic, distinguishing Joby’s production challenges from those of traditional automotive firms. “Our challenge is maybe a little different,” he noted, emphasizing their focus on making a crucially important aircraft rather than mass production at this stage.
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