Joby Aviation, Inc. announced it has signed a Memorandum of Understanding (MoU) with Mukamalah, a wholly owned subsidiary of Saudi Aramco, 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 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.

Mukamalah operates 55 aircraft from different fleets, serving 13 airports throughout Saudi Arabia, nine of which are fully managed and operated by Mukamalah, along with more than 300 helipads, both on- and off-shore. 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 November 2023, Joby?s aircraft became the first air taxi to fly in New York City, building on a number of recent successes including the launch of production at the Company?s Pilot Production Line in California in June 2023 and the first ever delivery of an electric air taxi to the U.S. Department of Defense in September 2023.