An early Joby Aviation backer might soon be its biggest distributor in Saudi Arabia

Core Insights - Joby Aviation has reached a tentative agreement with Abdul Latif Jameel (ALJ) to distribute up to 200 electric aircraft valued at approximately $1 billion in Saudi Arabia, which could accelerate Joby's monetization of its electric vertical takeoff and landing vehicles [1][2] Group 1: Partnership Details - The partnership involves a Memorandum of Understanding (MoU) to explore a distribution agreement, with expectations for more concrete details to be shared later this year [2] - ALJ has a longstanding relationship with Toyota, which recently invested $250 million in Joby as part of a total $500 million commitment, enhancing the partnership's credibility [4] - ALJ's extensive infrastructure in Saudi Arabia will support sales, pilot training, and maintenance, which are critical for the success of the aircraft sales [5][6] Group 2: Market Strategy - Joby plans to operate its own aircraft in the U.S. and partner with airlines in markets like Japan, while also launching in Dubai next year [3][7] - The partnership with ALJ is seen as a way to penetrate additional markets more quickly, leveraging local expertise for sales and support [8][9] - The collaboration comes amid increased U.S.-Saudi cooperation in technology and infrastructure, with significant investments from both sides in transformative technologies [9]