SKT and Joby Join Forces to Offer Air Taxi Service in South Korea

SANTA CRUZ, California & SEOUL, South Korea–(BUSINESS WIRE)–SK Telecom (NYSE: SKM, “SKT”), South Korea’s leading telecommunications company, and Joby Aviation (NYSE: JOBY, “Joby”), a California-based company developing a five-seat aircraft electric vehicles that can take off and land vertically (eVTOL), announced today that they will work together to introduce emission-free carpooling services to cities and communities in South Korea.

SKT CEO Ryu Young-sang and Joby Founder and CEO JoeBen Bevirt signed a strategic collaboration agreement at Joby’s manufacturing facility in Marina, California. The agreement will see the two companies work closely together on the introduction of this revolutionary form of transport in support of the “K-UAM” (Korean Urban Air Mobility) roadmap of the South Korean Ministry of Land, Infrastructure and Transport, first announced in 2020.

With a maximum range of 150 miles (241 kilometers), a top speed of 200 mph (321 km/h) and a low-noise profile that will allow it access to built-up areas, Joby’s piloted aircraft is designed to make it easier to travel by plane without emissions a daily reality.

SKT has promoted the development of urban air mobility by leveraging its expertise in telecommunications, autonomous driving, precise positioning and safety to become a leading company in connected intelligence. As a member of “UAM Team Korea”, SKT also works with other major Korean companies to improve the country’s competitiveness in this field.

The partners intend to leverage SK’s T Map mobility platform, Korea’s largest mobility platform, and UT transit service to provide multi-modal rides to seamlessly integrating customers. seamless land and air travel. UT was created as a joint venture between SKT and Uber in 2021, bringing together SK’s T Map platform and Uber’s ride-sharing technology. Joby and Uber have been collaborating since 2019.

“By partnering with Joby, a global leader in this field, we expect to accelerate our journey into the era of urban air mobility and pave the way for the introduction of this exciting new technology,” said Ryu. Young-sang, CEO of SKT.

“Collaborating with leading global companies is essential to providing leadership in future industries, which we believe will be driven by the growth of UAM, autonomous driving and robots.”

Joby has spent over a decade developing the technology behind its aircraft, completing over 1,000 test flights and becoming the first and only eVTOL company to sign a G-1 (Stage 4) certification basis for their aircraft with the Federal Aviation Administration. (FAA).

Commenting on the partnership and the opportunity presented by the South Korean market, JoeBen Bevirt, Founder and CEO of Joby, said, “We are delighted to partner with the team at SKT who bring a wealth of experience and technology relevant to the table.

“With over 42 million people living in urban areas, South Korea offers a remarkable opportunity for Joby to integrate air travel into daily life, helping people save time while reducing their carbon footprint. ”

While Joby’s ridesharing service will be operated directly by the company and offered to passengers via the Joby app or the Uber app in major U.S. markets, this announcement reflects Joby’s strategy to partner with companies locals committed to providing exceptional customer service and operational excellence to launch its service in select markets outside of the United States

Images of the signing ceremony are available here.

Photos and video footage of the Joby aircraft are available in the Joby media kit.

About Joby Aviation

Joby Aviation, Inc. (NYSE: JOBY) is a California-based transportation company developing an all-electric vertical take-off and landing aircraft that it intends to operate as part of a fast air taxi service , quiet and practical from 2024. The aircraft, which has a maximum range of 150 miles (241 kilometers) on a single charge, can carry a pilot and four passengers at speeds of up to 200 mph (321 km/ h). It is designed to help reduce urban congestion and accelerate the shift to sustainable modes of transport. Founded in 2009, Joby employs approximately 1,000 people, with offices in Santa Cruz, San Carlos and Marina, California, as well as Washington, DC and Munich, Germany. For more information, visit www.jobyaviation.com.

About SK Telecom

SK Telecom (NYSE: SKM) is Korea’s leading ICT company, leading innovations in fixed and wireless telecommunications, artificial intelligence services and digital infrastructure services. Armed with cutting-edge ICT, including AI and 5G, the company is ushering in a new level of convergence to deliver unprecedented value to its customers. As a global 5G pioneer, SKT is committed to realizing the full potential of 5G through breakthrough services that can improve people’s lives, transform businesses and lead to a better society.

SKT has unparalleled leadership in the Korean mobile market with over 30 million subscribers, representing nearly 50% of the market.

For more information, please contact [email protected] or visit our LinkedIn page www.linkedin.com/company/sk-telecom.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the development and performance of our aircraft, including the initial capacity of our factory. and regulatory outlook; our business plan, objectives, goals and market opportunities; and our current expectations regarding our business, financial condition, results of operations, prospects and capital requirements. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”. , “should”, “may have”. “, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including: our limited operating history and loss history; our ability to launch our ridesharing service and the growth of the urban air mobility market generally; our plans to operate commercial passenger service from 2024; the competitive environment in which we operate; our future capital requirements; our ability to adequately protect and enforce our intellectual property rights; our ability to respond effectively changes in regulations and standards relating to our aircraft; our dependence on suppliers and vice-partner third-party services; uncertainties related to our estimates of the market size of its aircraft and future revenue opportunities; and other important factors discussed in the section titled “Risk Factors” in our registration statement on Form S-1 (File No. 333-260608), filed with the Securities and Exchange Commission on October 29, 2021, and in other reports we file with or provide to the Securities and Exchange Commission. All of these forward-looking statements represent management’s estimates and beliefs as of the date of this press release. Although Joby may choose to update these forward-looking statements at some time in the future, it disclaims any obligation to do so, even if subsequent events change its views.

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