Core Viewpoint - Joby Aviation, an early mover in the eVTOL market, is positioned for potential growth due to its technological advantages, increasing backlog, and upcoming commercial flight approvals [2][10]. Company Overview - Joby Aviation went public in 2021 through a SPAC merger, with its stock initially opening at $10.62 and currently trading around $15 [1]. - The company has a market capitalization of approximately $13 billion, with a current stock price of $14.41 [6]. Technological Advantages - Joby's S4 eVTOL aircraft can carry one pilot and four passengers, travel up to 150 miles on a single charge, and reach speeds of 200 miles per hour, outperforming its competitor Archer Aviation's Midnight, which has a range of 100 miles and a maximum speed of 150 miles per hour [3][4]. - The S4's tilt-rotor propellers enhance its speed and energy efficiency compared to competitors that use separate propellers for lifting and cruising [4]. Market Position and Backlog - Joby has a backlog valued at approximately $17.4 billion, indicating strong future demand for its aircraft [10]. - The company is backed by significant investors, including Toyota and Delta Air Lines, and has made strategic acquisitions to bolster its market position [7]. Government Contracts and Testing - Joby holds a $131 million contract with the U.S. Department of Defense to deliver up to nine eVTOL aircraft, with two already delivered for testing [8]. - The company has conducted test flights in various countries, including South Korea, Japan, and the U.A.E., with plans to launch air taxi services in Dubai by 2026 [8]. Future Growth Potential - Analysts project Joby's revenue to grow from less than $1 million in 2024 to $200 million by 2027, driven by the anticipated approval of commercial flights and expansion into air taxi services [12]. - The global eVTOL market is expected to grow at a CAGR of 35.3% from 2024 to 2030, providing a favorable environment for Joby's expansion [12]. Production Expansion - Joby plans to double its production capacity to 24 aircraft per year and will begin manufacturing propeller blades in Ohio, supported by partnerships and government programs [11]. Financial Considerations - Joby currently trades at nearly 75 times its projected sales for 2027, indicating a high valuation relative to its growth potential [13]. - The company has seen a significant increase in its share count since going public, which may lead to further dilution as it raises capital [13].

Core Viewpoint - EHang's new eVTOL model, VT35, is designed for longer-distance travel and is priced at 6.5 million yuan, significantly higher than its predecessor EH216-S, which is priced at 2.39 million yuan. The VT35 aims to establish a commercial operational model for the eVTOL industry in China [1][7]. Group 1: Product Features and Specifications - The VT35 has a length of approximately 8 meters, a height of about 3 meters, and a wingspan of around 8 meters, capable of carrying two passengers with a maximum takeoff weight of 950 kilograms [5]. - The VT35 features a serial wing design with eight distributed lift propellers for vertical takeoff and landing, while the EH216-S uses a multi-rotor design with 16 propellers [5]. - The VT35 is expected to have a range of over 200 kilometers when fully loaded, allowing for intercity travel, such as from Shanghai to nearby cities like Hangzhou and Wuxi [6]. Group 2: Market Position and Pricing - The VT35 is priced at 6.5 million yuan, which is lower than similar eVTOLs available internationally, such as SkyDrive's SD-05 priced at approximately 10.71 million yuan [7]. - EHang's cost management strategies, including the use of existing production lines and shared components with the EH216 series, have helped stabilize production costs for the VT35 [8]. Group 3: Industry Context and Regulatory Environment - EHang is the only company with operational certification for eVTOLs in China, and its operations are being closely monitored by the Civil Aviation Administration of China (CAAC) [1][17]. - The successful operation of EHang's eVTOLs is seen as a critical step in establishing industry standards and regulations, which will facilitate further development in the sector [17].