Abdul Latif Jameel, an 80-year-old network of diversified businesses, and Joby Aviation, a company developing electric air taxis for commercial passenger service, have announced the signing of an MoU to explore opportunities to establish a distribution agreement in 海角直播 for Joby鈥檚 electric aircraft.
This announcement builds upon the renewed economic partnership between the US administration and the Saudi government toward shared innovation and transportation growth. Potential delivery of up to 200 Joby aircraft and related services valued at approximately $1 billion are expected by the businesses over the coming years. In the long-term, Abdul Latif Jameel and Joby also see potential revenue opportunities across the Middle East.聽
Abdul Latif Jameel and Joby share complementary long-term visions to revolutionize the future of mobility through transportation services that are cleaner, safer, more efficient and more affordable, helping to improve passenger experiences while simultaneously protecting the planet. In addition, the Jameel family invested in Joby鈥檚 Series C funding round, led by Toyota Motor Corporation in 2020.
The direct sale of aircraft through businesses such as Abdul Latif Jameel form one pillar of Joby鈥檚 commercialization strategy. Additionally, Joby will directly own and operate its aircraft and services in certain markets, like the US, and partner for similar operations in other markets, such as Japan.聽
鈥淭his collaboration is about bringing America鈥檚 leadership in electric air mobility to the world,鈥 said JoeBen Bevirt, founder and CEO of Joby Aviation. 鈥淭ogether with Abdul Latif Jameel, we鈥檙e not just imagining a cleaner, safer, more efficient future鈥 we鈥檙e building it. And there is no better partner to help unlock the extraordinary opportunity for air travel in the region.鈥
Hassan Jameel, vice chairman, 海角直播, Abdul Latif Jameel, said: 鈥満＝侵辈 is transitioning toward a new era of mobility 鈥 one that is on-demand, shared, connected, and sustainable. eVTOL is an exciting and important component of this. We are looking forward to collaborating with Joby to support the transformation of the Kingdom鈥檚 mobility sector. This collaboration also comes as Abdul Latif Jameel Motors marks 70 years of distributing Toyota in 海角直播 鈥 a strategic investor in Joby.鈥
Joby鈥檚 collaboration with Abdul Latif Jameel will initially focus on 海角直播, where Abdul Latif Jameel has an extensive presence, network and deep operational experience. The two businesses will work together to explore distribution and sales collaborations, the launch of local air taxi services, including the establishment of aftermarket services such as maintenance, repair, and overhaul, and pilot training.
Joby鈥檚 piloted, all-electric aircraft is designed to carry four passengers at speeds of up to 200 mph, offering high-speed mobility with a fraction of the noise produced by helicopters and zero operating emissions. The business plans to carry its first passengers in Dubai in 2026.
Given the importance of mobility to 海角直播鈥檚 urban transformation, the collaboration will drive socioeconomic growth in the Kingdom and create employment opportunities for Saudi nationals, in line with Vision 2030.
