Joby completes the acquisition of radar developer Inras GmbH | Your money


SANTA CRUZ, Calif. And LINZ, Austria – (BUSINESS WIRE) – December 21, 2021–

Joby Aviation Inc. (NYSE: JOBY), a California-based company developing all-electric aircraft for commercial passenger service, today announced the acquisition of Inras GmbH, a leader in the design of radar systems based in Linz, in Austria.

This press release features multimedia. See the full version here: https://www.businesswire.com/news/home/20211221005759/en/

Inras, a radar systems developer based in Linz, Austria, joins Joby to support the development of radar systems specially designed for on-board detection and navigation. (Photo: Business Wire)

Co-founded by Andreas Haderer and Andreas Stelzer, the five-person team brings academic and business leadership in the design of radio frequency (RF) systems, processing maps, real-time signal processing and advanced radar sensors. Stelzer is chairman of the renowned RF-Systems department at Johannes Kepler University, where he has been a professor since 2011.

“We are eager to integrate our advanced sensing technology into Joby’s electric air taxi. The technology we have developed will improve the detection and navigation capabilities on board the aircraft for large-scale operations, ”said Stelzer.

“As we grow our team here in Linz, we are excited to further develop the RF systems that underpin the future of sustainable aviation. “

Joby’s acquisition of Inras is emblematic of the company’s strategy to maintain its leadership in key cutting-edge technologies by seeking out proven leaders in their field, wherever they are in the world. The transaction will allow the Stelzer and Haderer team to remain in Linz, a growing hotbed for RF-related business and research activities, with additional resources.

“We have been continuously impressed with Inras since we started working with them to develop custom radar systems for our aircraft,” said JoeBen Bevirt, Founder and CEO of Joby.

“They are leaders in solving the challenges associated with airborne sensing and autonomy and we are delighted to welcome them to Joby as we move towards the integration of more advanced sensing capabilities in the future,” added Bevirt.

With a maximum range of 150 miles recently demonstrated in flight tests and a top speed of 200 mph, Joby’s all-electric aircraft is designed to carry four passengers and one pilot with zero operating emissions. The company began flying large-scale prototypes in 2017 and has performed over 1,000 flight tests. Joby aims to launch passenger service in 2024, providing a fast, clean and quiet way for people to get around congested metropolitan areas and other communities.

Joby was recently listed on the New York Stock Exchange (“NYSE”) under the ticker symbol “JOBY”.

ABOUT JOBY AVIATION

Joby Aviation, Inc. (NYSE: JOBY) is a California-based transportation company developing an all-electric vertical take-off and landing aircraft that it intends to operate as part of a fast air taxi service. , quiet and practical from 2024. The aircraft, which has a maximum range of 150 miles on a single charge, can carry one pilot and four passengers at speeds of up to 200 mph. It is designed to help reduce urban congestion and accelerate the shift to sustainable modes of transport. Founded in 2009, Joby employs approximately 1,000 people, with offices in Santa Cruz, San Carlos and Marina, California, as well as Washington, DC and Munich, Germany. To find out more, visit www.jobyaviation.com.

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. including our initial factory capacity. and regulatory outlook; our business plan, objectives, goals and market opportunities; and our current expectations regarding our business, financial condition, results of operations, prospects and capital requirements. 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”, “plan”, “plan”, “have”, “probable” and other words and terms of similar meaning in the statement. during any discussion of the timing or nature of future operational 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 limited operating history and our history of losses; our ability to launch our air carpooling service and the growth of the urban air mobility market in general; our plans to operate a commercial passenger service from 2024; 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 respond effectively to constantly evolving regulations and standards relating to our aircraft; our dependence on a supplier and a third party vice-partner; uncertainties related to our estimates of the size of the market for its aircraft and future revenue opportunities; and other important factors discussed in the section entitled “Risk Factors” of our registration statement on Form S-1 (File No. 333-260608), filed with the Securities and Exchange Commission on October 29, 2021, and in other reports that we table. with or provide to the Securities and Exchange Commission. These forward-looking statements represent the estimates and beliefs of management as of the date of this press release. While Joby may choose to update these forward-looking statements at some time in the future, he disclaims any obligation to do so, even if subsequent events change his view.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211221005759/en/

CONTACT: Investors:

[email protected]

+ 1-831-201-6006 Media:

[email protected]

KEYWORD: CALIFORNIA AUSTRIA EUROPE UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: TECHNOLOGY AERIAL ENGINEERING TRANSPORT OTHER AEROSPACE TECHNOLOGY MANUFACTURING TRANSPORT TRAVEL

SOURCE: Joby Aviation Inc.

Copyright Business Wire 2021.

PUB: 12/21/2021 4:05 PM / DISC: 12/21/2021 4:05 PM

http://www.businesswire.com/news/home/20211221005759/en

Copyright Business Wire 2021.

Previous Extension of the temporary exemption from withholding tax for "too-big-to-fail" Swiss bonds
Next Visa Partners With 60 Crypto Platforms To Enable Consumers To Spend Digital Currency At 80 Million Merchants - Finance Bitcoin News