Doubling Down on Electric Air Taxis
Joby Aviation (NYSE: JOBY), a pioneer in electric vertical takeoff and landing (eVTOL) aircraft, saw its stock soar by 8.1% on July 15, 2025, following the announcement of a significant expansion at its Marina, California, manufacturing facility. The company has doubled its aircraft production capacity at the site, now spanning approximately 435,500 square feet, to support its ambitious scale-up of commercial operations. This milestone comes on the heels of Joby’s delivery of its first flying taxi to the United Arab Emirates and successful piloted test flights in Dubai, positioning the company as a leader in the emerging air taxi industry.
The expanded Marina facility, complemented by Joby’s manufacturing hubs in Santa Cruz, San Carlos, California, and a newly renovated site in Dayton, Ohio, underscores the company’s commitment to scaling production. Joby also added a new aircraft to its growing fleet, enhancing its flight test program. The expansion was supported by a $9.8 million grant from the California Governor’s Office of Business and Economic Development in 2023 and approximately $10 million in equipment cost reductions through a California State Treasurer’s Office program.
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