Company delivers its first aircraft to the United Arab Emirates and anticipates inaugural passenger-carrying flights as soon as next year.

Shares of Joby Aviation (JOBY) gained altitude yesterday, climbing 12% higher after announcing the electric vertical take-off and landing (eVTOL) aircraft leader successfully completed piloted test flights in Dubai. It marks a historic step toward commercial air taxi services.

The Joby Aerial Taxi, the flagship electric vertical take-off and landing (eVTOL) aircraft developed by the California-based company, can fly distances of up to 160 kilometers (100 miles) at speeds reaching 320km/hr (200mph).