Now Reading: Joby Aviation buys US defence firm Resonant for $500 million
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Joby Aviation buys US defence firm Resonant for $500 million
Electric air taxi firm Joby Aviation said on Tuesday it will buy defence technology company Resonant Sciences for $500 million, betting on the military market as commercial eVTOL development lags. The Economic…
The Story in Brief
Electric air taxi firm Joby Aviation said on Tuesday it will buy defence technology company Resonant Sciences for $500 million, betting on the military market as commercial eVTOL development lags. The Economic Times reports that Joby will keep its air taxi programme separate while folding its defence work into Resonant, which builds radio-frequency and mission systems for US national security customers. The deal, expected to close in the first half of 2027, gives Joby about 1 million square feet of manufacturing space in Ohio. Shares fell 6.5% in premarket trading.
The Indian Opinion
The air taxi dream is taking a detour through the defence hangar. Fawning coverage of flying cars glosses over the fact that commercial eVTOL remains years away from profitability. Joby's move is a hard-nosed pivot to the Pentagon, a huge customer with urgent needs. This is less about innovation and more about survival. Watch whether Joby cuts its air taxi targets after the deal closes.
Source: economictimes.indiatimes.com
This story was synthesised by AI from the source linked above.
