Joby Aviation is close to finalizing a deal with Saudi Arabian conglomerate Abdul Latif Jameel to distribute up to 200 electric aircraft, valued around $1 billion. This partnership represents a significant step toward monetizing Joby's electric vertical takeoff and landing vehicles in the region. The two companies have signed a Memorandum of Understanding, paving the way for future announcements. Joby aims to complement its distribution strategy with partnerships in other markets, leveraging ALJ's existing infrastructure and strong ties with Toyota, which has invested heavily in Joby.
A question that folks have asked is, how are you going to monetize, and how quickly is that going to happen? I think what this shows is that with direct sales, there is a way to get to scale earlier for lower cost by thinking about distributor partners in given geographies.
The deal would be among the first instances of an eVTOL startup landing a distributor partner for their aircraft. Joby also plans to own and operate its own aircraft.
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