Riyadh - Sharikat Mubasher: Abdul Latif Jameel, a leading Saudi family-owned and diversified business, signed a memorandum of understanding (MoU) with Joby Aviation, a pioneering developer of electric air taxis for commercial passenger service, to explore opportunities to establish a distribution agreement in Saudi Arabia for Joby’s electric aircraft.
Under this partnership, Joby is expected to deliver up to 200 Joby aircraft and offer related services valued at approximately $1 billion over the next years, the company announced in a press release yesterday.
In the long term, Abdul Latif Jameel and Joby will also see potential revenue opportunities across the Middle East.
This MoU underscores the shared complementary long-term visions of both parties to revolutionize the future of mobility through transportation services that are cleaner, safer, more efficient, and more affordable.
Commenting on this collaboration, Hassan Jameel, Vice Chairman of Saudi Arabia at Abdul Latif Jameel, stated: “We are looking forward to collaborating with Joby to support the transformation of Saudi Arabia’s mobility sector. This collaboration also comes as Abdul Latif Jameel Motors marks 70 years of distributing Toyota in Saudi Arabia, a strategic investor in Joby.”
For his part, JoeBen Bevirt, Founder and CEO of Joby Aviation, stated: “This collaboration is about bringing America’s leadership in electric air mobility to the world. Together with Abdul Latif Jameel, we are not just imagining a cleaner, safer, more efficient future, we’re building it. And there is no better partner to help unlock the extraordinary opportunity for air travel in the region.”
This collaboration will initially focus on Saudi Arabia, where Abdul Latif Jameel has an extensive presence, network, and deep operational experience. Both businesses will join hands to explore distribution and sales collaborations, the launch of local air taxi services, including the establishment of aftermarket services such as MRO (Maintenance, Repair, and Overhaul), and pilot training.
It is worth mentioning that Abdul Latif Jameel recently partnered with Uber to explore building a scalable, next-generation fleet operations platform in Saudi Arabia.