Saudi conglomerate Abdul Latif Jameel has signed a memorandum of understanding with American electric aircraft developer Joby Aviation to explore opportunities for electric air taxi services in the Kingdom, potentially delivering up to 200 aircraft valued at approximately $1 billion. The partnership aims to introduce fast, clean, and quiet commercial passenger transportation across Saudi Arabia, supporting the country’s Vision 2030 economic diversification goals while advancing sustainable urban mobility solutions.
Hassan Jameel, Vice Chairman, Saudi Arabia, Abdul Latif Jameel, highlighted the initiative’s importance: “Saudi Arabia is transitioning toward a new era of mobility—one that is on-demand, shared, connected, and sustainable. eVTOL is an exciting and important component of this.” Electric vertical takeoff and landing (eVTOL) aircraft represent an emerging sector in aviation, promising to revolutionize urban transportation by providing helicopter-like convenience with significantly reduced noise and zero operating emissions.
JoeBen Bevirt, Founder and CEO of Joby Aviation, emphasized the collaboration’s broader significance: “This collaboration is about bringing America’s leadership in electric air mobility to the world. Together with Abdul Latif Jameel, we’re not just imagining a cleaner, safer, more efficient future—we’re building it.” The agreement builds on existing connections between the companies, with the Jameel family having invested in Joby’s Series C funding round in 2020, which was led by Toyota Motor Corporation—a longtime partner of ALJ. “This collaboration also comes as Abdul Latif Jameel Motors marks 70 years of distributing Toyota in Saudi Arabia—a strategic investor in Joby,”
Mr. Jameel noted, highlighting the interconnected nature of these business relationships. Industry analysts view the partnership as part of Saudi Arabia’s broader push to position itself as a leader in advanced transportation technologies. The Kingdom has invested heavily in futuristic mobility solutions across its Vision 2030 giga-projects, including NEOM and the Red Sea Development. Joby’s piloted aircraft is designed to carry four passengers at speeds of up to 200 mph, offering high-speed mobility with significantly less noise than traditional helicopters. The company plans to begin commercial passenger services in Dubai, UAE, by 2026.
The collaboration will explore multiple aspects of electric aviation deployment, including distribution and sales partnerships, the launch of local air taxi services, and the establishment of maintenance, repair, and overhaul facilities, as well as pilot training programs. For Abdul Latif Jameel, the Joby partnership represents another example of its strategy to identify and invest in transformative mobility technologies before they achieve mainstream adoption.
The company previously made early investments in electric vehicle manufacturer Rivian, years before major automakers embraced electric mobility. Founded in 1945 as a single gas station in Jeddah, ALJ has evolved into a global investor and diversified business operating across more than 30 countries, with Hassan Jameel leading its transformation into new mobility sectors while maintaining its core automotive distribution business.