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| Joby Aviation offers its electric plane in-flight |
Joby Aviation, an electric aviation company headquartered in Northern California, is the latest travel agency to undergo a reverse merger with the Special Purpose Acquisition Company (PSPC).
The company showed the introduction of an electric plane in the flight with 6 propellers and 5 seats including the pilot.
Joby Aviation, a Toyota-backed company that recently acquired Uber's air taxi division, is merging with Reinvent, led by LinkedIn co-founder Reid Hoffman and Zynga founder Mark Pincus.
This new company will be listed on the New York Stock Exchange and will have a future foreign currency valuation of $ 6.6 billion.
As part of the deal, Joby Aviation will receive $ 1.6 billion in cash, including $ 690 million from the Reinvent Trust and $ 835 million from private investors.
Joby Aviation is the brainchild of inventor JoeBen Bevirt, who founded the company in 2009 and runs its business in a relatively dark way.
In 2018, Joby Aviation announced that it had raised $ 100 million from various investors, including the venture capital arm of Intel, Toyota and JetBlue.
The money helped fund the development of the plane taxi prototype, which is currently being tested at the company's own private airport in Northern California.
Unlike the dozens of other companies currently building eVTOL vertical take off and landing aircraft, Joby Aviation is keeping several project secrets.
The video shows it taking off vertically like a helicopter and then converting to a forward flight using an inclined propeller.
The company said: It can reach a top speed of 200 miles per hour and travel 150 miles on a single charge, which is 100 times quieter than a conventional plane.
The company said its goal is to expand air taxi services by 2024 and expects the cost to manufacture each aircraft to reach $ 1.3 million. This amount could be halved in the future.
The company also predicts that, assuming each plane operates 4,500 hours per year and averages 2.3 passengers per flight, each plane will generate $ 2.2 million in revenue.