Joby Aviation • SK Telecom • Air taxi

Joby Aviation • SK Telecom • Air taxi

Joby Welcomes $100 Million Investment As It Expands Partnership with SK Telecom

(NYSE:JOBY), a company developing all-electric aircraft for commercial passenger service, today announced that SK Telecom (NYSE:SKM, “SKT”)

South Korea’s leading telecommunications company, is making an equity investment of $100 million in Joby

as part of an expanded partnership between the two companies.

The agreement, executed on 27 June, paves the way for Joby to participate alongside SKT in Korea’s “K-UAM Grand Challenge.”

“We’re grateful for SKT’s commitment to Joby and look forward to working with them as we develop a transformational air taxi service for Korea.”

Joby and SKT first signed a strategic collaboration agreement in February 2022, which was expanded to include TMAP, South Korea’s largest mobility platform, in May 2022.

Today’s investment is expected to lead to the development of further partnerships across the mobility ecosystem in Korea, led by SKT.

This technology promises to greatly reduce customers’ travel time and we look forward to turning Korea into a mobility powerhouse.