Source: Joby to Sell up to $250 Million of Aircraft and Services in Kazakhstan

Source: Joby to Sell up to $250 Million of Aircraft and Services in Kazakhstan :: Joby Aviation, Inc. (JOBY)

Joby Aviation, Inc. (NYSE: JOBY), a California-based developer of electric air taxis, announced the signing of a letter of intent with Alatau Advance Air Group (AAAG) to sell aircraft and services worth up to $250 million, marking the beginning of Kazakhstan’s first air taxi service.

The agreement is supported by a memorandum of understanding with the Ministry of Artificial Intelligence and Digital Development of the Republic of Kazakhstan, which pledged regulatory and infrastructure support to facilitate the project.

AAAG, part of the Alatau City development initiative, aims to make Kazakhstan a regional hub for advanced air mobility. The collaboration will also explore sourcing titanium and rare earth metals from Kazakhstan for Joby’s aircraft production.

Deputy Prime minister – minister of Artificial Intelligence and Digital Development of the Republic of Kazakhstan, Zhaslan Madiyev said the project represents “a step into the future of innovative transportation,” contributing to Alatau City’s vision as a hub of advanced technologies.

CEO and founder of Joby, JoeBen Bevirt highlighted Kazakhstan’s potential as a “key gateway for expanding air mobility across Central Asia.”

Alatau Advance Air Group CEO, Sergey Khegay added that the company aims to bring urban air mobility to life in Kazakhstan, starting with Alatau City and Almaty, becoming the region’s first launch customer for eVTOL aircraft and supporting the government in building a safe, reliable regulatory ecosystem.

The introduction of electric air taxis is expected to support Alatau City’s vision as a future-oriented global innovation hub, while strengthening economic cooperation between Kazakhstan and the United States.