Joby Aviation, Inc. (NYSE:JOBY) opened on markets much lower Thursday. The company Thursday announced this week the first flight of its turbine electric, autonomous VTOL aircraft.
The demonstrator builds on Joby’s fully-electric air taxi platform and integrates a hybrid turbine powertrain along with the Company’s SuperPilot™ autonomy stack to deliver greater range and payload capability.
Potential applications for Joby’s hybrid aircraft include longer range air taxi services as well as sales to civilian, commercial and defense customers.
The start of flight testing comes just three months after Joby announced the aircraft concept alongside a new partnership with L3Harris Technologies (NYSE: LHX), who bring proven expertise on platform missionization, including sensors, effectors, communication and collaborative autonomy. L3Harris plans to equip Joby’s commercial hybrid aircraft to address defense applications, such as contested logistics, “loyal wingman” operations and low-altitude support.
The U.S. government has prioritized the acquisition of resilient, autonomous and hybrid aircraft, requesting over $9 billion in the FY26 budget for next-generation platforms.
The aircraft completed its first flight at Joby’s Marina, California, facility on Friday, November 7. It will continue ground and flight testing before taking part in operational demonstrations with government customers, planned for 2026.
JOBY shares fell $1.05, or 6.4%, to $15.25, while those for LHX declined $4.61, or 1.5%, to $295.65.
