From Yahoo Finance: 2025-06-03 12:46:00

Joby is in talks with a Saudi investor for 200 air taxis, potentially worth $1 billion. Shares spiked 9.9% in response. CEO sees this as a starting point for business in Saudi Arabia. Deal could validate technology globally and pave the way for regulatory approval in other markets.

The deal with Abdul Latif Jameel could be a significant move for Joby, proving its technology and expanding its market reach. The $1 billion agreement, though preliminary, is seen as a valuable first step for the company’s future growth and expansion.

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Read more: Why Joby Aviation Stock Is Soaring Today