Joby Aviation (NYSE:JOBY) announced the completion of its second of four System Reviews required by the Federal Aviation Administration as part of the company’s aircraft type certification program.
The company said the successful completion of the in-person, multi-day audit by the FAA last week at its facilities in Marina, California demonstrates it is on the path of certifying its electric vertical take-off and landing aircraft.
Specifically, the series of system reviews serve to validate the overall architecture of the aircraft and ensure the company’s development process is on track to satisfy the FAA’s safety objectives associated with complex aircraft systems.
“We’re confident that our aircraft design is on track to meet the FAA’s expectations regarding system-level safety, redundancy, and overall aircraft architecture,” said Joby (JOBY) exec Didier Papadopoulos.
Shares of JOBY rose 0.79% premarket to $3.72 vs. the 52-week trading range of $3.43 to $7.60.