Joby rises after agreement with Saudi Arabian group for electric aircraft

ReutersJun 3, 2025 1:23 PM

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Shares of air-taxi maker Joby Aviation JOBY.N up 12.53% at $8.44 premarket

Co signs memorandum of understanding (MoU) with Saudi Arabian group Abdul Latif Jameel for Joby's electric aircraft

Joby says potential delivery of up to 200 aircraft and related services valued at about $1 billion are "expected by the businesses over the coming years"

"Will work together to explore distribution and sales collaborations, the launch of local air taxi services, including the establishment of aftermarket services such as MRO (maintenance, repair, and overhaul), and pilot training" - Joby

4 of 9 brokerages rate the stock "buy", 3 "hold" and 2 "sell"; their median PT is $9 - LSEG data

Up to last close, stock down ~8% YTD

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