Joby Receives Part 145 Maintenance Certificate from FAA

• Believed to be the first eVTOL developer to receive a Part 145 Maintenance Certificate
• Lays foundation for future maintenance, repair and overhaul services of its eVTOL aircraft fleet
• Part of Joby’s vertically-integrated approach to bringing revolutionary technology to market

SANTA CRUZ, Calif.--(BUSINESS WIRE)--Joby Aviation, Inc. (NYSE:JOBY), a company developing electric vertical take-off and landing (eVTOL) aircraft for commercial passenger service, today announced it has received its Part 145 Repair Station Certificate from the FAA, qualifying the Company to perform select maintenance activities on aircraft and marking another key step on the path to commercializing Joby’s electric air taxi service.

Joby is believed to be the first eVTOL developer to receive a Part 145 Certificate from the FAA, which will lay the foundation for Joby to perform maintenance, repair, and overhaul (MRO) services on its eVTOL aircraft once it is certified for commercial operations.

Bonny Simi, President of Operations, commented: “This approval marks another foundational piece of Joby’s vertically-integrated strategy, including aircraft development, manufacturing, charging systems, commercial flight operations, and now maintenance operations, as we prepare to bring our revolutionary eVTOL aircraft to market.”

“Receiving our Part 145 certificate from the FAA is an important step towards developing the needed maintenance, repair and overhaul services to support Joby’s commercial flight operations, as well as establishing career pipelines for people who want to become eVTOL aircraft technicians.”

Under the Part 145 certificate, Joby will begin performing select airframe, radio, and instrument repairs on traditional aircraft, with plans to expand its MRO services in the coming months and years. The certificate also allows Joby to provide paid on-the-job training to aspiring aircraft technicians.

In 2022, Joby partnered with Aviation High School in Queens, New York, to develop local talent and integrate course materials on electric propulsion systems for students, preparing graduates for career opportunities in the next generation of quiet, emissions-free flight.

Joby’s electric air taxi is designed to carry a pilot and four passengers at speeds of up to 200 mph, offering high-speed mobility with a fraction of the noise produced by helicopters and zero operating emissions.

About Joby

Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi which it intends to operate as part of a fast, quiet, and convenient service in cities around the world. To learn more, visit www.jobyaviation.com.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the development and performance of our aircraft, the growth of our manufacturing and maintenance capabilities, our regulatory outlook, progress and timing; our business plan, objectives, goals and market opportunity; plans for, and potential benefits of, our strategic partnerships; and our current expectations relating to our business, financial condition, results of operations, prospects, capital needs and growth of our operations, including the expected benefits of our vertically-integrated business model. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including: our ability to launch our aerial ridesharing service and the growth of the urban air mobility market generally; our ability to produce aircraft that meet our performance expectations in the volumes and on the timelines that we project, and our ability to launch our service; the competitive environment in which we operate; our future capital needs; our ability to adequately protect and enforce our intellectual property rights; our ability to effectively respond to evolving regulations and standards relating to our aircraft; our reliance on third-party suppliers and service partners; uncertainties related to our estimates of the size of the market for our service and future revenue opportunities; and other important factors discussed in the section titled “Risk Factors” in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on March 1, 2023, and in future filings and other reports we file with or furnish to the SEC. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this presentation. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.