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Joby Aviation announced on June 3, 2025, that it has signed a Memorandum of Understanding (MoU)with Abdul Latif Jameel, a diversified business conglomerate based in Saudi Arabia.
The recently signed agreement sets a framework for the two companies to cooperate in the development of advanced air mobility (AAM) business opportunities in Saudi Arabia.
The announcement also hints at a potential order from the Saudi company for 200 of Joby’s eVTOL aircraft and the related services. If confirmed, the deal will be worth around US$1 billion, which would make it the largest single order received by Joby to date.
However, the collaboration between the two companies might not stop there. Both parties will also evaluate the possibility of cooperating in the launch and operation of advanced air mobility services in the Kingdom as well as the possibility of the Saudi group becoming Joby’s distributor in Saudi Arabia and other countries in the region.
In this regard, it is pertinent to highlight the fact that the Jameel family, which owns the Abdul Latif Jameel group, has been an investor in Joby since at least 2020.
What’s more, the Saudi group can trace its roots back to its decades-long activity as Toyota’s official distributor in Saudi Arabia. The Japanese company also happens to be an early investor in Joby, and, after the closing of the latest US$500 million funding round, it is also the largest shareholder in the advanced air mobility company.
