Key Points
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Joby is on the verge of becoming the first eVTOL firm to secure FAA type certification.
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Being the first to market could position them for a decade of expansion.
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Nvidia provides the company with significant technological support.
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We favor these 10 stocks over Joby Aviation.
Joby Aviation (NYSE: JOBY)is a new aviation company aiming to solve a problem familiar to many urban commuters:traffic.
The core concept revolves around transporting people via air.electric vertical takeoff and landingElectric vertical takeoff and landing (eVTOL) aircraft offer a way to bypass traffic jams on busy city streets and highways, particularly for airport commutes.
If that explanation prompted you to wonder, “Hold on, isn’t that simply a helicopter?” allow me to clarify. These vehicles are electric-powered, fairly silent, and employ both stationary wings and propellers that rotate to move ahead during flight.like an airplane.
The combination of these characteristics is what positions Joby’s aircraft as a game-changer in the urban air mobility sector. The reason I believe this is because they are aiming to be the first to transport paying customers.growth stockhas the potential to skyrocket in the coming ten years.
Being the first to market might provide Joby with a significant and lasting edge over its rivals.
Joby Aviation is on the verge of becoming the pioneering eVTOL firm authorized to transport regular commuters above urban congestion.
The company is nearing the end of its FAA-type certification, a crucial step for starting commercial operations. In this regard, they seem to be further along than their competitor.Archer Aviation (NYSE: ACHR), which is working through the same regulatory steps.
In addition to making regulatory progress, Joby also has a powerful tech ally in Nvidia (NASDAQ: NVDA). Near the end of October, Nvidia chose Joby to be one of the first to use its IGX Thor computer platform. This platform is designed to be installed in aircraft and process data from the plane’s sensors instantly. If successful, this could enhance the safety and dependability of Joby’s aircraft.
Until Joby has regulatory approval, however, its revenue will be essentially zilch, and it will survive on its cash. On that note, it ended the third quarter with about $978 million in cash and equivalents. That should give it a couple of years to continue funding its R&D at its current burn rate.
JOBY Cash and Short Term Investments (Quarterly) data by YCharts
I wouldn’t overlook the risks, and gaining regulatory approval is still one. But within the next decade, I see Joby getting that approval first — and soaring as the default urban air taxi.
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Steven Porrello has positions in Archer Aviation, Joby Aviation, and Nvidia. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy.
