Joby Aviation, a leading developer of all-electric aircraft for commercial passenger service, has announced a significant equity investment of $100 million from SK Telecom (SKT), South Korea’s leading telecommunications company. This investment marks an expansion of the partnership between Joby and SKT, paving the way for their collaboration in Korea’s “K-UAM Grand Challenge,” a demonstration program aimed at promoting aerial ridesharing in the country.
The partnership between Joby Aviation and SK Telecom positions Joby to capitalize on the immense potential of the Korean market, which has shown a strong commitment from the government to embrace aerial ridesharing. Joby’s participation in the K-UAM Grand Challenge demonstrates their dedication to developing a transformative air taxi service for Korea.