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Agreement signed with Mukamalah, aviation subsidiary of Saudi Aramco, to introduce eVTOL aircraft to
Saudi Arabia - Agreement contemplates direct sale of aircraft to Mukamalah
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Mukamalah Aviation Company operates world’s largest fleet of corporate aircraft
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![Captain Khalid Al Natour, CEO of Mukamalah Aviation, signed a Memorandum of Understanding with Joby Founder and CEO JoeBen Bevirt at the Future Aviation Forum in Riyadh, Saudi Arabia. Joby Aviation Photo](https://mms.businesswire.com/media/20240521221682/en/2137356/4/Joby.jpg)
Captain
The MoU, signed today between Joby and Mukamalah, contemplates the parties working together to engage with key aviation stakeholders, including
The direct sale of aircraft to business customers such as Mukamalah and government partners like the
“We’re looking forward to supporting Mukamalah as they introduce emissions-free aircraft to their fleet and we’re excited to explore wider opportunities across the region, in support of the Kingdom’s commitment to sustainability, which is a pillar of Vision 2030, and their overall goal of reaching net-zero emissions by 2060.”
Mukamalah operates 55 aircraft from different fleets, serving 13 airports throughout
Captain
“Over the past years, we have already invested in a more sustainable future, including taking steps in Sustainable Aviation Fuel testing, supporting the development of hydrogen solutions in the aviation ecosystem, and supporting the Kingdom’s green initiatives by delivering sustainable aviation solutions.
“We are excited to work with Joby and we look forward to furthering our shared goals as we strengthen our partnership and develop further innovative sustainable solutions together.”
A spokesperson for GACA, the
Joby’s aircraft is designed to carry a pilot and up to four passengers at speeds of up to 200 mph (321 km/h), offering high-speed mobility with a fraction of the noise produced by helicopters and zero operating emissions. In
Joby is listed on the
About Joby
About Mukamalah
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the development and performance of our aircraft, our regulatory outlook, progress and timing; our plans to sell aircraft in the Saudi Arabian market; our business plan, objectives, goals and market opportunity; and our current expectations relating to our business, financial condition, results of operations, prospects, capital needs and growth of our operations. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including: our ability to launch our aerial ridesharing service and the growth of the urban air mobility market generally; our ability to produce aircraft that meet our performance expectations in the volumes and on the timelines that we project, and our ability to launch our service; complexities related to obtaining certification and operating in foreign markets; the competitive environment in which we operate; our future capital needs; our ability to adequately protect and enforce our intellectual property rights; our ability to effectively respond to evolving regulations and standards relating to our aircraft; our reliance on third-party suppliers and service partners; uncertainties related to our estimates of the size of the market for our service and future revenue opportunities; and other important factors discussed in the section titled “Risk Factors” in our Annual Report on Form 10-K, filed with the
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