Abdul Latif Jameel and Joby Aviation, Inc. have signed a Memorandum of Understanding (MoU) to explore a potential distribution agreement in Saudi Arabia for Joby's electric aircraft. This initiative aligns with Saudi Arabia's Vision 2030, aiming to foster socio-economic growth through innovative transportation solutions. The collaboration could lead to the delivery of up to 200 electric aircraft, valued at approximately $1 billion. The partnership will initially focus on Saudi Arabia, leveraging Abdul Latif Jameel's extensive network and operational experience to explore distribution and sales, local air taxi services, and related aftermarket services. This agreement marks a significant step in advancing fast, clean, and affordable passenger transportation in the Kingdom and aims to create employment opportunities for Saudi nationals.
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