The New Paper

February 25, 2021

Joby Aviation announces plans to go public via SPAC

Electric air taxi company Joby Aviation announced plans to go public through a $7B SPAC merger. The California-based company plans to launch a fleet of flying taxis by 2024 in an effort to reduce urban congestion and “accelerate the shift to sustainable modes of transit.” As part of the announcement, the company released the first footage of its all-electric aircraft in flight (watch).

Extra: Joby raised $590M in a funding round led by Toyota last year, which at the time was the largest-ever investment in the air taxi space. The company also acquired Uber’s air taxi division in December.
This story is from the February 25, 2021 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.