According to New Atlas, the stocks of US air taxi startup Joby collapsed after the accident of one of its prototypes.
It was reported that the vehicle had crashed during a test flight in California. Shortly before the accident, the air taxi accelerated to 435 kilometers per hour, which is 100 km per hour more than the maximum declared speed of the aircraft.
The Joby air taxi is an electric tilt rotor with a V-tail and six electric motors. The innovative aircraft is designed for a pilot and four passengers.
Joby positions itself as an air Uber in the air taxi market. However, the accident thwarted the company's ambitious plans. Its stocks plummeted after the N542AJ main prototype crashed. Last Thursday, February 17, Joby's shares fell by 9%. Consequently, the price per share dropped to $5.05.
It became known that the air taxi was controlled remotely. There were no casualties in the accident. The crash will be investigated by the US National Transportation Safety Board (NTSB).
The startup Joby is one of the leading players vying for a share of the future self-driving taxi market. It was previously reported that Joby and Japanese airline ANA would launch a flying taxi in Japan. Major automaker Toyota Motor Corporation will partner with them to synchronize the new mode of transport with ground transport. Moreover, the company plans to be one of Joby’s investors.
