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Joby Aviation (NYSE:JOBY) announced on Wednesday that it is collaborating with Atlantic Aviation to electrify existing aviation infrastructure in New York and Southern California. The partnership is expected to pave the way for the launch of Joby Aviation’s (JOBY) air taxi service.
The collaboration between Joby Aviation (JOBY) and Atlantic will focus on activating key Atlantic sites to support quiet, emissions-free air taxis, including the installation of Joby’s Global Electric Aviation Charging System. The two companies will undertake a comprehensive analysis of how revolutionary air taxi can operate at locations alongside traditional aircraft and other electric aircraft, offering customers a new way to move from point to point in congested cities that is quieter and more sustainable.
Atlantic Aviation was noted to have an extensive operational footprint in major cities across the United States, including numerous sites in the New York City and Los Angeles metropolitan areas, where Joby and Atlantic will initially focus their partnership.
Joby Aviation (JOBY) recently completed the first-ever flight of an electric air taxi in New York City, participating in an event held by the city’s leadership announcing their intent to electrify the iconic Downtown Manhattan Heliport.
Shares of Job Aviation (JOBY) dipped 1.05% in premarket trading. The eVTOL stock trades below its 100-day and 200-day moving averages. Short interest on JOBY stands at 18.7% of the total float.