<div id="readability-page-1">Joby pulls ahead: Joby is deep into Stage 4 of FAA certification, while Archer has just completed Stage 3, despite being first in the U.S. to reach that milestone. Investor caution grows: Archer's shares have fallen over 40% in a year, with high quarterly losses and cash burn weighing on sentiment despite a strong cash position. 2026 launch race: Both firms plan U.S. launches in 2026 under a White House program, with early certification potentially offering a decisive market advantage.</div>

JOBY

JOBX

<p>Joby 正在推进 FAA 认证，目前处于第 4 阶段，而 Archer 刚刚完成第 3 阶段。尽管 Archer 拥有强劲的现金储备，但由于重大亏损和现金消耗，其股票在一年内下跌超过 40%。两家公司都计划在 2026 年在美国推出，早期认证可能会提供竞争优势</p>

Joby extends FAA lead as Archer faces valuation pressure

Joby Aviation

Joby 扩大了在 FAA 的领先优势，而 Archer 则面临估值压力