Joby Aviation has signed a memorandum of understanding with Red Sea Global and The Helicopter Company to conduct pre-commercial evaluation flights of its electric air taxi in Saudi Arabia by the first half of 2026. Joby also plans to expand its operations in the Middle East and Central Asia, with agreements in Ras Al Khaimah, Dubai, and Kazakhstan.

Joby recently partnered with NVIDIA to accelerate the development of its Superpilot autonomous flight technology. Joby’s stock has gained triple digits in the past six months, outperforming the Zacks Transportation-Airline industry and its rival Archer Aviation in the electric vertical takeoff and landing space.

Despite trading at a premium to Archer Aviation, Joby and Archer both have a Value Score of F. The Zacks Consensus Estimate for Joby’s losses in the third quarter, fourth quarter, full-year 2025, and 2026 have widened over the past 60 days. Joby currently holds a Zacks Rank #3 (Hold).

Zacks Research Chief names Joby Aviation as a stock most likely to double. This little-known satellite-based communications firm is projected to see major revenue growth in 2025. For more insights and recommendations from Zacks Investment Research, check out their latest stock analysis reports.

Read more at Nasdaq: JOBY Saudi Arabia Bound: Is the Growth Thesis Strengthening?