Uber and Joby Aviation Confirm Air Taxis Launch in Dubai by 2026 -- Time to Buy?
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Uber and Joby Aviation Confirm Air Taxis Launch in Dubai by 2026 -- Time to Buy?
April 24, 2026 — 03:25 pm EDT
Written by
Keith Noonan for
The Motley Fool->
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Key Points
- Joby Aviation and Uber are moving forward with the launch of eVTOL taxi services this year.
- Launching services in Dubai looks particularly important for Joby.
- Joby is a pure play in the eVTOL market, while Uber currently has minimal exposure to the space.
- 10 stocks we like better than Joby Aviation ›
Joby Aviation (NYSE: JOBY) has confirmed that it will be moving ahead with the launch of electric vertical takeoff and landing (eVTOL) taxi services this year, and Uber (NYSE: UBER) is on board as a partner to help launch and expand the service.
Joby's plan to launch its flying taxi services in Dubai this year suggests the business could soon begin recording sales on commercial flights. In addition, the company may also capitalize on opportunities to win contracts with defense customers. But even though these opportunities exist, some big questions remain.
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Image source: Joby Aviation.
Is Joby on the verge of a major commercialization breakthrough?
With Iran somewhat loosening its hold on shipping traffic through the Strait of Hormuz and the extension of a ceasefire agreement with the U.S., it looks like the war in Iran could be winding down. If so, it would remove a meaningful risk factor for Joby Aviation's push to launch flying-taxi services in Dubai this year. Iran had struck targets in Dubai in response to the war with the U.S. and Israel, and launching the flying-taxi services amid a backdrop of potential rocket strikes would have added additional challenges for the fledgling commercial eVTOL service.
With the outlook on potential regulatory approval for the company to begin commercial eVTOL flights in the U.S. still somewhat uncertain, the company's upcoming service launch in Dubai could be both a source of revenue for the business and a proof of concept that could demonstrate viability in other markets. In addition to being a key proving point for Joby, the commercial launch of the company's eVTOL aircraft will also help usher in the debut of the Uber Air service -- a new offering that will allow users to book air-based travel through the ride-hailing specialist's platform.
Is it time to invest in Joby and Uber?
Joby currently looks like the leading player among U.S.-based eVTOL companies, and its stock could be a sensible portfolio addition for investors seeking concentrated exposure to the space. On the other hand, Joby Aviation's future sales outlook essentially hinges on the scaling of its eVTOL business. While the eVTOL space has big long-term growth potential, the industry outlook remains highly speculative.
Along those lines, Uber's and Joby's respective profiles look very different when it comes to overall valuations and exposure to the eVTOL market. Uber currently has a market capitalization of roughly $154 billion, and the company is valued at approximately 23 times this year's expected earnings.
The company closed out 2025 with a net income margin of 10.4%, and revenue rose 19% on a currency-adjusted annual basis in the year to reach $14.4 billion. While flying taxi services could eventually come to be a meaningful sales contributor for Uber, such a scenario is likely more than five years away even in the most optimistic scenarios.
Meanwhile, Joby posted total revenue of roughly $53.4 million last year. Heightening the performance contrast, the business recorded a net loss of roughly $929.8 million. Even more striking, most of Joby's revenue last year came from its acquisition of Blade Urban Air Mobility and government contracts with U.S. defense customers. Joby currently has a market capitalization of roughly $9 billion and is valued at roughly 80 times this year's projected revenue.
Investors won't have to wait long to get more details on Joby's recent performance and near-term outlook. The company is scheduled to publish its first-quarter results after the market closes on May 5. There's a good chance that the company will provide more information about its plans to launch eVTOL flights in Dubai this year. Notably, Uber is also scheduled to publish its own quarterly report the following day -- and it's possible both companies will provide some commentary on their partnership and the outlook on flying taxi operations in Dubai.
Even though Uber h