Joby Aviation (NYSE:JOBY) saw its stock jump 8.1% after the electric air taxi company revealed it has significantly increased production capacity at its Marina, California facility, effectively doubling its output potential.
The expanded manufacturing site now covers roughly 435,500 square feet and is designed to support Joby’s plans to scale up commercial operations. The company also added a new aircraft to its fleet, enhancing its ongoing flight test program. Notably, this latest aircraft received airworthiness certification within just one week after completion.
“Reimagining urban mobility takes speed, scale, and precision manufacturing. Our expanded manufacturing footprint in both California and Ohio is preparing us to do just that,” said Eric Allison, Joby’s Chief Product Officer.
Once fully ramped up, the Marina facility is projected to produce as many as 24 aircraft annually — almost one every two weeks. The site will also facilitate key capabilities, including initial FAA production certification, thorough ground and flight testing, pilot training simulators, and aircraft maintenance services.
This expanded Marina location is part of Joby’s broader manufacturing network, which also includes facilities in Santa Cruz and San Carlos, California, and a recently upgraded site in Dayton, Ohio. The Dayton facility focuses on manufacturing and testing aircraft parts and is gearing up to produce as many as 500 aircraft per year in the future.
Joby’s expansion has been bolstered by notable support, including a $9.8 million grant from the California Governor’s Office of Business and Economic Development in 2023, along with nearly $10 million in equipment cost savings through a program run by the California State Treasurer’s Office.
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