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Joby Aviation Nears FAA-Type Certification
Joby Aviation (NYSE: JOBY) is on the verge of becoming the first electric vertical takeoff and landing (eVTOL) company to receive FAA-type certification, essential for operating commercial air taxi services. The company is in the final stages of the certification process and is ahead of competitor Archer Aviation (NYSE: ACHR).
Joby ended Q3 with approximately $978 million in cash and equivalents to fund its research and development as it awaits regulatory approval. The partnership with Nvidia (NASDAQ: NVDA) for its IGX Thor computer platform may enhance the aircraft’s safety and reliability, impacting its future growth.
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