Small investors can now fly to one of the leading companies that works to enable people to travel by air. Shares of electric taxi designer Joby Aviation began trading Wednesday on the New York Mercantile Exchange following a reverse merger with Reinvent Technology Partners, which is considered to be a blank check company controlled by LinkedIn co-founder Reed Hoffman.

founder Mark Pincus.

Outside the NYSE, Job’s demonstration was the prototype of his five-seater electric jet, the result of 12 years of covert development work in the forests of Northern California, which he moved to large areas. Joby co-founder and CEO Ebo Bevirt will return home with $ 1.1 billion worth of joint stock to institutional investors selling private shares.

That revenue is down from the initially expected $ 1.6 billion after investors who controlled 62% of Reinvent Technology Partners preferred to cash in on the stock immediately above the $ 10 IPO price of the RTP, specifically against the background of the freezing of energy. Target acquisition vehicles or SPACs, including those involving start-up air taxi companies.

However, Birt says the $ 1.1 billion raised, or about $ 500 million in cash that Santa Cruz, California, had as of March 31, is all the money needed to start production of his new aircraft. for: It is planned to fly like a helicopter, then to bend its six rotors forward to fly like an airplane. to prove its safety to federal regulators by the end of 2023, which is likely to be the first electric air taxi certified to serve passengers in the United States. եթե If all goes well, Birt has hoped to launch an airline service from 2024 to several undiscovered cities in the United States.

Birt says Jobs is ready to put the pressure on quarterly reports to the tempting eye of Wall Street analysts. “We have a plan for what we will do in the coming years,” he said Forbes:. “We need to build trust by delivering.”

Easing that pressure will put unusually long-term restrictions on the sale of shares by insiders. Former Job Obi investors (including Toyota Motor Corp.), which brings together the majority of the company, as well as its CEO and RTP executives, will have their shares blocked for five years, during which time the shares will be released. On an annual basis, giving full rights to the founders of RTP comes only when the stock price reaches $ 50, which implies a market capitalization of more than $ 30 billion.

Bevirt has ambitious goals to meet the projected market limit. With the aircraft, which he said will be able to transport four pilots at a single charge over a distance of 150 miles, Bevirt aims to develop air taxi networks that will allow city dwellers to fly in one go. -expensive streets for $ 3 per mile for passengers, cheaper than driving an Uber Black. With widespread acceptance, he outlines a vision to significantly reduce greenhouse gas emissions while allowing much of the street landscape to be transformed into restaurants and parks.

Financial forecasts were also high. Job և RTP told investors that by 2026 they will start making $ 2 billion in revenue, and 10 years from now, they will make $ 20 billion with 14,000 planes flying to 20 cities.

Job Ob is not the only airline that has made big predictions to SPAC investors about its future financial performance. As a sign of investor skepticism, as the Securities and Exchange Commission looks more closely at SPACs, Atlas Crest and Archer announced last month a “strategic reset” of their deal, which reduced the company’s initial value by 38% to $ 1. 1.7 billion. . Shares of Atlas Crest և Qell Acquisition Corp., which have agreed to merge with German startup Lilium, are both trading below the typical $ 10 redemption level for SPACs.

The hopes of all air taxis are high, convincing civil regulators that their new planes are safe to carry passengers. The FAA has yet to certify any type of electric aircraft, most notably vertical take-off and landing (VTOL). It is expected to continue cautiously, threatening the ambitious start-up schedule, their banknotes, if possible, that it may require security changes that will add weight and disrupt the aircraft’s economic viability.

Startups are also faced with the high task of getting their planes to fly in the city sky, to build vertical places where people live.

However, Job has already earned a US Air Force Flight Certificate, and over the next few years it will earn a solid income, gaining valuable real-world work experience through a program that the USAF will test the use of EVTOL aircraft for cargo. Delivery, medical evacuation և search և rescue. Birt says he expects to fly cargo through the Agility Prime program. Until now, Job had only operated remote-controlled test flights of his aircraft, which could be the company’s first direct transit.

Job has been awarded $ 40 million by the Air Force and expects to win an additional $ 100 million in contracts.

While much remains to be done on the capabilities of his aircraft, Job said last month that he had met his long-range requirements by flying his prototype 150 miles on a single charge, including energy-efficient vertical take-off and landing. և pilots և piloted at a distance from the ground.

He says there has been a significant reduction in noise compared to helicopters, which should help him approve areas where the helicopters were considered too obstructive.

Last month, Job posted a video of Bhirt holding a noise meter in which he allegedly recorded a plane traveling at 55 decibels at a speed of 100 meters from the ground, slightly longer than the length of a football field. It is 1000 times quieter than a 90 decibel helicopter.

It also published a comparison of flight noise.