Last year the agency released a blueprint for how Urban Air Mobility vehicles will operate, which is a key element in maturing the overall concept.
Expansion
The FAA’s decision has been welcomed by the industry, which has seen billions of dollars of investment in recent years.
“The regulation will ensure the US continues to play a global leadership role in the development and adoption of clean flight,” said JoeBen Bevirt, CEO of Californian eVTOL firm Joby Aviation.
“Delivering ahead of schedule is a testament to the dedication, coordination and hard work of the rulemaking team.”
Earlier this month Toyota announced a US$500 million investment to support the commercial production of Joby electric air taxis.
The funding, which will be allocated in two tranches, brings the car manufacturer’s total investment in the firm to US$894 million since 2019.
Last week Joby also launched a public offering to sell up to US$200 million of its shares of common stock, per a regulatory filing.
The firm said it will use the proceeds from the offering to fund its certification and manufacturing efforts, prepare for commercial launch in 2025, and for general working capital.
Image: Joby
