Summary by Moomoo AI
On June 4, 2024, Joby Aviation, Inc., a pioneer in electric air taxis, announced the strategic acquisition of the autonomy division of Xwing Inc., a leader in autonomous aviation technology. This acquisition is expected to bolster Joby's long-term vision of accessible aerial mobility through autonomous flight and may accelerate the company's existing and potential future contracts with the U.S. Department of Defense. Xwing has made significant strides in autonomous flight, being the first to receive FAA certification for a large unmanned aerial system and completing over 250 autonomous flights. The integration of Xwing's team into Joby will focus on enhancing automation and autonomy for Joby's aircraft, aligning with the company's mission to revolutionize aviation. The terms of the acquisition, which was paid for with Joby shares, were not disclosed.