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Santa Cruz, CA, and Dhahran, Saudi Arabia, May 21, 2024 — Joby Aviation, Inc. (NYSE: JOBY), a company developing electric air taxis for commercial passenger service, today announced it has signed a Memorandum of Understanding (MoU) with Mukamalah, a wholly owned subsidiary of Saudi Aramco (SR: 2223), the operator of the world’s largest fleet of corporate aircraft, to introduce Joby’s aircraft to the Kingdom of Saudi Arabia.
The MoU, signed today between Joby and Mukamalah, contemplates the parties working together to engage with key aviation stakeholders, including The Saudi General Authority of Civil Aviation (GACA), to expedite Joby’s entry into the Saudi Arabia market, leading to the direct purchase of Joby aircraft to be used in Mukamalah’s operations.
The direct sale of aircraft to business customers such as Mukamalah and government partners like the U.S. Department of Defense forms one pillar of Joby’s commercialization strategy, alongside the direct operation of Joby aircraft in core markets such as the U.S. and the United Arab Emirates, and partnered operations in other markets.
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