Joby Inks $61.5 Million Deal To Acquire Another Ready-To-Use Facility In Ohio As It Eyes Doubling eVTOL Production

• Joby first announced its plans to double production in 2027 in December.
• Company CEO JoeBen Bevirt also noted that the new facility can serve as a base for significant future growth.
• The investment comes amid easing in the U.S. regulatory environment pertaining to eVTOLS.

Shares of Joby Aviation, Inc. (JOBY) declined over 1% on Wednesday after the eVTOL maker said that it has inked a deal to acquire a manufacturing facility in Dayton, Ohio, for $61.5 million.

The new facility spans more than 700,000 feet and is ready for immediate use, the California-based company said. The deal is part of Joby’s ambitions to double production to four aircrafts per month in 2027.

Operations at the new facility, purchased from Capstone STS LLC, are expected to begin this year. Joby already has facilities in California and Ohio and the new facility can serve as a base for “significant future growth,” CEO JoeBen Bevirt noted.

Joby Eyes Manufacturing At Scale

Last year, Joby, which has received millions from Japanese automaker Toyota to support production, completed an expanded manufacturing facility in Marina and started propeller blade production in Ohio. Joby first announced its plans to double production in 2027 in December. The company also said at the time that it has begun procurement of the capital equipment required to double manufacturing capacity.

Joby’s investment to expand manufacturing capacity came on the heels of U.S. Secretary of Transportation Sean Duffy unveiling a strategy aimed at improving support for the deployment and integration of electric air taxis. In September, Duffy also announced a new pilot program to allow some aircraft designs to demonstrate eVTOL use cases, such as passenger transportation, cargo delivery, and emergency response, ahead of achieving type certification. The Federal Aviation Administration is expected to deploy the pilot program in 2026.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around JOBY stock stayed within the ‘extremely bullish’ territory over the past 24 hours, while message volume stayed at ‘high’ levels.

JOBY stock has gained 57% over the past 12 months. 

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