The U.S. Federal Aviation Administration (FAA) has released final safety regulations for the electric "air taxi" industry, marking a significant milestone for companies like Joby Aviation (JOBY, Financial) and Archer Aviation. These electric Vertical Takeoff and Landing (eVTOL) aircraft can operate like both airplanes and helicopters, offering a new mode of urban and airport transport. The FAA now categorizes them under a newly established powered lift classification.
The comprehensive 880-page document outlines pilot qualifications, training requirements, and operational standards for these aircraft, including minimum safety altitudes and required visibility. This regulatory advancement is seen as the "last piece of the puzzle" for integrating eVTOLs into U.S. airspace and enabling their commercial use.
FAA Administrator Mike Whitaker announced the development, highlighting the introduction of a new category of aircraft, adding to the existing rotorcraft and fixed-wing types. The flexible regulations aim to create a safe operational environment for these innovative aircraft.
In response to the announcement, Joby's stock surged over 14% during trading hours, closing with a 12.57% gain. Archer Aviation also saw its shares rise by nearly 7.2%. These developments are essential for air taxi companies, as they anticipate transforming urban transportation by reducing commute times in congested areas.
Joby plans to launch its eVTOLs by 2025 but requires FAA certification to carry passengers. Founder JoeBen Bevirt emphasized that the new regulations will ensure the U.S. continues to lead in clean aviation technology.
