The 12-minute, 10-nautical-mile flight of the eVTOL air taxi in Federal Aviation Administration (FAA)-controlled airspace integrated with other aircraft and demonstrated vertical takeoff, wingborne transition, and vertical landing. This is clear evidence that commercialization will happen within this decade.

"The achievement is a major step as part of Joby's commercial market readiness," the aviation startup wrote in a press release, adding, "It's a critical measure of the maturity of the Company's path to commercialization as the flights also demonstrated the type of real-world service Joby intends to offer to the public." 

Joby has previously stated that commercial flights of its eVTOL air taxis will begin in early 2026, with a broader rollout of this revolutionary mode of transportation expected by 2028.

Shares of Joby were up 8% in New York premarket trading. Year-to-date, the stock is up 114% as of Thursday's close. Short interest stands at about 11.5% of the float, or approximately 58 million shares, with around 1.3 days to cover.