Joby Aviation is developing the S4, an all-electric vertical takeoff and landing (eVTOL) aircraft designed to carry a pilot and up to four passengers at speeds up to 200 mph with a range of up to 100 miles. The S4 is built for urban air taxi service, with a noise profile quiet enough to operate from vertiports in dense urban areas. Joby is not yet in commercial operation and is completing FAA type certification, targeting first paying passenger flights in 2026 — initially in Dubai under a 6-year exclusive agreement, and potentially in select U.S. markets under a government pilot program. Joby's long-term model is to own and operate an air taxi service, selling rides directly to consumers via its own app or through partners like Uber and Delta. Unit economics improve with scale: higher aircraft utilization and greater manufacturing volume reduce per-trip costs. Joby uses a vertically integrated manufacturing model and is collaborating with Toyota on factory scale-up, targeting production of 2 aircraft per month in 2026, doubling to 4 per month in 2027. In markets where Joby won't operate directly — such as Japan with ANA — Joby plans to partner with local operators or sell/lease aircraft. Joby is also developing a hybrid turbine-electric autonomous defense variant with L3Harris. Near-term revenue comes primarily from Blade Urban Air Mobility, a helicopter charter brokerage Joby acquired in August 2025, which operates routes like Manhattan to JFK and Nice to Monaco.