ASTANA, Republic of Kazakhstan & SANTA CRUZ, Calif. — Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today announced it has signed a letter of intent to sell electric vertical takeoff and landing (eVTOL) aircraft and services valued at up to $250 million to Alatau Advance Air Group (“AAAG”), a company dedicated to introducing air taxis to Kazakhstan. The agreement, which includes pre-delivery payments, is being supported by a parallel memorandum of understanding between Joby and the Ministry of Artificial Intelligence and Digital Development of the Republic of Kazakhstan. The Ministry has committed to embracing the development of Advanced Air Mobility in Kazakhstan, including the creation of the regulatory environment and infrastructure required for the successful implementation of air taxis.

AAAG is at the forefront of the development of Alatau City, a 340 square mile city development project that is set to become a Central Asian international hub and an early launch market for air taxis in the region. The parties will also collaborate on sourcing critical materials, including titanium and rare earth metals, from Kazakhstan for the production of Joby’s aircraft.

“Kazakhstan is taking a step into the future of innovative transportation. The purchase of electric eVTOL aircraft will mark an important milestone in the development of smart cities and the adoption of cutting-edge technologies. This initiative will contribute to the growth of Alatau City as a unique hub of advanced technologies of the future,” said Zhaslan Madiyev, Deputy Prime Minister and Minister of Artificial Intelligence and Digital Development of the Republic of Kazakhstan.

“We are deploying our proven market-entry playbook in Kazakhstan by partnering with both the government and a strategic regional operator to accelerate our path to commercial operations,” said JoeBen Bevirt, CEO and founder of Joby. “Kazakhstan is positioning itself to become a key hub for advanced air mobility and the expansion of Joby’s service into the Central Asia region.”

“We envision bringing urban air mobility to life in Kazakhstan, beginning with the newly-developed smart city of Alatau and the metropolitan hub of Almaty. Our ambition is to become the region’s first launch customer for eVTOL aircraft, establish a comprehensive testbed and ground infrastructure, and support the Government of Kazakhstan in creating a robust regulatory environment for safe and reliable operations,” said Sergey Khegay, CEO of Alatau Advance Air Group Ltd. “We welcome the opportunity to collaborate with one of the United States’ leading manufacturers of next-generation electric aircraft.”

Source: Joby Aviation, Inc.