JOBY

Joby Aviation, Inc.

HALAL

Score: 76/100

stock

Is JOBY Halal?

Electric vertical takeoff and landing (eVTOL) aircraft developer — permissible clean transportation business.

What You Should Know

Joby Aviation is developing an all-electric vertical takeoff and landing (eVTOL) aircraft for commercial passenger air taxi service. The company has progressed through several FAA certification milestones and operates partnerships with Toyota (manufacturing), Delta Air Lines (US commercial launch), Uber (booking integration), and Dubai's Roads and Transport Authority (UAE air taxi operations). Civil aviation and clean transportation are unambiguously permissible. Joby is pre-revenue and pre-profit — it is funded by equity issuance and partner investments rather than interest-bearing debt — which actually keeps its debt-to-market-cap ratio comfortably under Sharia thresholds. The defense services agreement with the US Department of Defense (Agility Prime) supports eVTOL development with logistics and personnel transport contracts, which are broadly classified as dual-use (transportation) rather than weapons systems at most Sharia advisory boards. Risk for Muslim investors is primarily commercial — execution risk on certification and ramp — not Sharia.

⚠️ Concerns

•Pre-revenue with significant ongoing cash burn (financial risk, not Sharia)
•Modest US Department of Defense contracts via Agility Prime (transportation/logistics, not weapons)
•Equity-funded balance sheet keeps Sharia ratios clean today but watch for future debt issuance
•Speculative regulatory and execution risk should be sized appropriately