Latest news with #JoeBenBevirt
Yahoo
2 days ago
- Business
- Yahoo
Joby scales up manufacturing in California, Ohio
This story was originally published on Manufacturing Dive. To receive daily news and insights, subscribe to our free daily Manufacturing Dive newsletter. Dive Brief: Joby Aviation is doubling its manufacturing capacity at its facilities in California and Ohio, the electric vertical take-off and landing plane maker announced last week. The company's plans include increasing the Marina, California, facility's space to 435,500 square feet, according to the press release. The company initially broke ground on the site last year. Joby is also 'actively standing up' its manufacturing capacity at an existing renovated facility in Dayton, Ohio, a spokesperson said in an email. The company acquired a U.S. Postal Service facility at Dayton International Airport to jump-start production as it builds its $500 million air taxi manufacturing plant. Dive Insight: Joby spent about $15 million on property and equipment in the first quarter, Paul Sciarra, executive chairman, said in a May earnings call. The investments went toward expanding the California and Ohio facilities, test equipment as well as costs of its full-motion flight simulator for pilot training. The investment totals for the Ohio and California sites was not disclosed. Once the Marina site is fully operational, the facility is expected to produce up to 24 aircraft a year, the eVTOL manufacturer said. It will also house Joby's certified full-motion flight simulator, which is set to arrive before year's end, JoeBen Bevirt, founder and CEO, said during the earnings call. Additionally, the Marina plant will provide other capabilities, including conforming ground and flight testing components, pilot training simulators and aircraft maintenance. It also includes the Federal Aviation Administration's initial production certification, which enables companies to manufacture duplicate products under a type design approved by the agency. The certification will also enable the company to get the FAA's approval to operate an aircraft in flight. As for the Dayton facility, the site will manufacture and test aircraft components for Joby's pilot production line. Joby is installing equipment at the factory, which will establish the required FAA production certification capabilities and support the eVTOL maker's plans to scale operations, according to the press release. The Dayton facility's production ramp-up will progressively increase to build up to 500 aircraft per year. Joby's partnership with the Toyota Motor Corp. has enabled the eVTOL maker to scale its air taxi production. The automaker is Joby's largest shareholder. In 2023, Toyota initially invested $400 million in the electric air taxi maker, and the two manufacturers signed a long-term supply agreement for powertrain and actuation components.
Bloomberg
3 days ago
- Business
- Bloomberg
Joby Seeking Final-Phase Testing for Five Air Taxis in 2026
Air taxi startup Joby Aviation Inc. expects to have five aircraft in one of the final phases of certification next year as it aims to start commercial flights in early 2026, according to its chief executive officer. 'Through the course of '26, we are going to be bringing more aircraft and building out progressively,' Joby CEO JoeBen Bevirt said in an interview. He said that next year the company will likely have five aircraft undergoing the US Federal Aviation Administration's Type Inspection Authorization testing, which is needed to start commercial service in the US.
Yahoo
6 days ago
- Automotive
- Yahoo
Here's Why Joby Aviation Stock Took Off Vertically This Week
Key Points Air taxis moved one step closer to commercialization this week. Joby Aviation has heavyweight backers, including Toyota, which is helping ensure the commercial viability of its growth plans. 10 stocks we like better than Joby Aviation › Joby Aviation (NYSE: JOBY) soared by 47.2% this week on news of the expansion of an existing manufacturing site in Marina, California. The expansion is a key part of its growth plan as it prepares to scale up production of its air taxis in anticipation of entering the market. Heavyweight backing There's no shortage of investment in the electric vertical takeoff and landing (eVTOL) market, and several competitors are developing air taxis. Still, as Tesla investors will argue regarding their company's robotaxi ambitions, the company that has the ability, know-how, and financial resources to create a commercially viable product will ultimately prevail. That observation equally applies to Joby Aviation, and while it doesn't have a manufacturing history behind it (unlike Tesla), it does have the substantive backing of a company that does, Toyota Motor. It also has received investment from two transportation heavyweights, Uber Technologies and Delta Air Lines. Toyota's investment (totaling about $890 million) includes a recent $250 million investment "aimed at supporting certification and commercial production of Joby's electric air taxi," and Joby's CEO, JoeBen Bevirt, has previously lauded Toyota's help in "streamlining manufacturing processes and optimizing design." The ongoing backing of Toyota is significant and provides strong support for the idea that Joby Aviation's air taxis will scale up commercially, as does this week's news. Do the experts think Joby Aviation is a buy right now? The Motley Fool's expert analyst team, drawing on years of investing experience and deep analysis of thousands of stocks, leverages our proprietary Moneyball AI investing database to uncover top opportunities. They've just revealed their to buy now — did Joby Aviation make the list? When our Stock Advisor analyst team has a stock recommendation, it can pay to listen. After all, Stock Advisor's total average return is up 1,058% vs. just 179% for the S&P — that is beating the market by 878.83%!* Imagine if you were a Stock Advisor member when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,281!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,050,415!* The 10 stocks that made the cut could produce monster returns in the coming years. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 15, 2025 Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla and Uber Technologies. The Motley Fool recommends Delta Air Lines. The Motley Fool has a disclosure policy. Here's Why Joby Aviation Stock Took Off Vertically This Week was originally published by The Motley Fool
Time of India
17-07-2025
- Business
- Time of India
Joby stock soars 8% again as air taxi expansion lifts entire eVTOL sector — Archer, KRMN surge too
Joby stock soars 7.47% today as air taxi expansion lifts entire eVTOL sector — Archer, KRMN rally too: JoeBen Bevirt, the visionary founder and CEO of Joby Aviation, has officially rejoined the billionaire ranks — and the rally that put him there is still going strong. Joby Aviation Inc (NYSE: JOBY) surged 7.47% today, climbing $1.22 to close at $17.55, extending a breathtaking 160% run-up since April. This renewed momentum is part of a larger wave lifting the entire electric air mobility sector. As Joby pushes forward with its ambitious air taxi expansion, fellow eVTOL players Archer Aviation (ACHR) and Karman Holdings (KRMN) are also flying higher, with investors piling in on the future of urban aerial transport. Explore courses from Top Institutes in Select a Course Category Public Policy PGDM Healthcare Project Management Data Science others Finance Data Science Leadership Product Management Operations Management Data Analytics Digital Marketing Technology Others healthcare Cybersecurity Management Degree MBA CXO Design Thinking MCA Artificial Intelligence Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details Skills you'll gain: Economics for Public Policy Making Quantitative Techniques Public & Project Finance Law, Health & Urban Development Policy Duration: 12 Months IIM Kozhikode Professional Certificate Programme in Public Policy Management Starts on Mar 3, 2024 Get Details This explosive rally has turned CEO JoeBen Bevirt into a billionaire again, thanks to his 12% stake in the company now valued at over $1.3 billion. Investors are betting big on the eVTOL (electric vertical takeoff and landing) revolution — and Joby is right at the center of it. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas Prices In Dubai Might Be More Affordable Than You Think Villas In Dubai | Search Ads Get Quote Undo Why is Joby stock still soaring? Today's 7%+ pop builds on a multi-month rally that's been fueled by: Aggressive production scale-up : Joby is doubling its California facility and ramping up manufacturing in Dayton, Ohio, targeting 24 aircraft per year as it gears up for commercial launch. Test flights and rollout progress : Successful pilot tests in Dubai , upcoming vertiport construction, and plans for U.S. launches in NYC and L.A. by 2025 are sparking investor optimism. Sector-wide momentum : Policy support, growing FAA cooperation, and surging interest in electric vertical takeoff and landing (eVTOL) technology are lifting peers like Archer and KRMN. Live Events What's happening across the eVTOL sector? Company Price Change % Change Joby Aviation $17.55 +$1.22 +7.47% Archer Aviation $12.79 +$0.70 +5.79% Karman Holdings $54.67 +$0.93 +1.73% The strong rally in these stocks reflects broad-based investor excitement over the dawn of flying taxis. Archer is riding Joby's coattails with its own certification progress, while KRMN benefits from increased demand in defense-related aerospace systems, a related tailwind. Why is Joby Aviation expanding its air taxi production now? On Tuesday, Joby Aviation announced a major expansion of its Marina, California facility in the Monterey Bay area, aiming to double aircraft production. The new space will cover 435,500 square feet, allowing the company to scale up manufacturing to 24 aircraft per year. This is a crucial step for Joby as it prepares to move from prototype testing to real-world operations. In parallel, the company is also ramping up activity at its Dayton, Ohio plant, where it will build and test aircraft components. This dual-site approach is designed to support fast, scalable production — a key factor as the company nears commercial deployment. 'Reimagining urban mobility takes speed, scale and precision manufacturing,' said Eric Allison, Joby's Chief Product Officer, in a statement. When and where will Joby launch its electric air taxi service? Joby Aviation is preparing for a commercial launch in Dubai in early 2026, with plans to expand to New York City and Los Angeles by 2025. The company has already conducted piloted test flights in Dubai and delivered its first aircraft to the United Arab Emirates. Construction of the first commercial vertiport at Dubai International Airport is underway and expected to be completed by Q1 2026. These international test flights are part of Joby's strategy to secure regulatory approval and showcase real-world readiness. What's fueling the Joby stock rally in 2025? Several factors have pushed Joby stock into breakout mode this year: Strong sector momentum: Investor excitement around the advanced air mobility (AAM) sector has lifted the entire eVTOL space. Production readiness: Expanded facilities in California and Ohio suggest Joby is closer to mass production. Dubai test flights: Successful piloted vertical takeoff and landing (VTOL) flights demonstrate technical progress. Early mover advantage: Joby is among the first to deliver an aircraft to the UAE, showing international trust. Joby's gains also come as rival Archer Aviation (NYSE: ACHR) rose 7% Wednesday and is up nearly 24% year-to-date. Meanwhile, defense contractor Karman Holdings (NYSE: KRMN), another industry peer, hit a record high, more than doubling since its February IPO at $22. Can Joby sustain this rally? While short-term technicals and sentiment are extremely bullish, analysts are urging caution. Wall Street consensus : Average 12-month price target sits around $9.33 , suggesting potential downside from current levels. Bearish scenarios : Some predictive models forecast JOBY dropping to $5–7 by 2026 due to limited current revenue (~$136K) and ongoing unprofitability. Bullish case : Supporters point to Joby's market leadership, production growth, and FAA certification pathway as long-term catalysts. Is Joby stock a smart investment right now? In the short term, analysts are bullish. Joby's momentum and strong technical indicators suggest it could climb to $16–$17 soon. But the long-term outlook is mixed. Wall Street's 12-month consensus price target sits around $9.33, hinting at possible downside from current levels. Forecasts diverge widely: Bearish estimates: Some models expect a drop to $5–$7 by 2026 due to lack of revenue. Bullish scenarios: Optimists see Joby trading above $13–$15 as it rolls out commercial flights. While Joby's 2024 revenue was just $136,000, and the company remains unprofitable, its progress toward certification and market entry keeps investors interested. Still, it remains a speculative play, and any delay in FAA approval or operational setbacks could shake confidence. Who is JoeBen Bevirt, the brain behind Joby Aviation? JoeBen Bevirt, 51, is the founder and CEO of Joby Aviation. He launched the company in 2009, driven by a vision to transform how people move in cities through electric flight. Education: Mechanical engineering degrees from UC Davis and Stanford. Career: Prior to Joby, he created Joby Inc., the camera gear company, and Velocity11, a robotics startup. Patents: Bevirt holds more than 160 patents, many tied to eVTOL technology. Net worth: With Joby's stock rally, his 12% stake now exceeds $1.3 billion. Bevirt's track record as an inventor and entrepreneur gives investors hope that he can steer Joby through the complex path to full-scale operations. Can Joby dominate the flying taxi future? Bull Case: Joby is clearly ahead in many aspects — testing, manufacturing, FAA collaboration, and international rollout. With real aircraft already flying and vertiports under construction, Joby has a strong head start. Bear Case: The company still brings in very little revenue and faces steep operational and regulatory hurdles. If timelines slip or technical issues arise, the hype could fade quickly. Joby Aviation stock is soaring, fueled by expansion plans, successful test flights, and growing investor optimism. But as with any high-growth startup in a new industry, it comes with risks. The company's ability to scale production, win regulatory approval, and launch services will determine if it becomes the leader of the air taxi revolution — or just another speculative bubble. For now, the market is giving Joby the benefit of the doubt. Time will tell if it delivers. FAQs: Q1: What is driving Joby stock higher in 2025? Joby stock is rising due to expanded production, Dubai test flights, and strong investor interest in electric air taxis. Q2: When will Joby Aviation launch its air taxi service? Joby aims to begin air taxi operations in Dubai by early 2026, followed by U.S. cities like NYC and LA.
Time of India
16-07-2025
- Business
- Time of India
Joby Aviation CEO becomes a billionaire overnight after stock skyrockets 160% and 11% in a day
Joby Aviation stock soars 160%, lifting CEO's net worth past $1.3 billion as flying taxi dreams gain momentum- Joby Aviation has taken flight once again—not just in the skies, but in the stock market too. The California-based electric air taxi company has seen its shares surge over 160% since April, hitting an all-time high of $13.92 in New York trading. That rally has made CEO JoeBen Bevirt a billionaire once more, with his 12% stake in the company now valued at $1.3 billion, according to Bloomberg Billionaires Index. Bevirt, 51, has seen his fortune more than double in just a few months, thanks to a mix of strong investor optimism, defense interest, and promising test flights. Joby Aviation's stock had struggled since its 2021 SPAC debut, but a string of good news and growing enthusiasm around electric vertical takeoff and landing (eVTOL) aircraft has sent the share price soaring again. Explore courses from Top Institutes in Select a Course Category Operations Management Healthcare healthcare Data Science others Degree MBA Data Science Finance Project Management Digital Marketing Leadership Artificial Intelligence Cybersecurity Others Design Thinking Technology PGDM Public Policy MCA CXO Management Data Analytics Product Management Skills you'll gain: Quality Management & Lean Six Sigma Analytical Tools Supply Chain Management & Strategies Service Operations Management Duration: 10 Months IIM Lucknow IIML Executive Programme in Strategic Operations Management & Supply Chain Analytics Starts on Jan 27, 2024 Get Details What's fueling Joby Aviation's stock explosion? Several key developments have fueled the massive spike in Joby's share price, which is now trading around $15.50 , more than double its April lows: Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0.00% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Unbelievable: Calculator Shows The Value Of Your House Instantly (Take a Look) Home Value Calculator Search Now Undo Production ramp-up: Joby is expanding its California facility and launching production in Ohio, aiming to deliver up to 24 aircraft per year . This scale-up is a major confidence booster for investors betting on the future of air taxis. Commercial readiness: The company is prepping for real-world deployment, with pilot flights already underway in Dubai and plans for service in NYC and Los Angeles by 2025. Sector momentum: Broader interest in advanced air mobility, coupled with policy support and investor buzz, has lifted the entire eVTOL (electric vertical takeoff and landing) space. The sharp rally in Joby Aviation stock follows a series of key events. Last month, Joby completed a successful piloted eVTOL test flight in Dubai in partnership with local aviation authorities. That demonstration helped validate the company's technology and marked an important step toward its goal of flying paying passengers by 2026. Adding to the momentum, President Donald Trump recently signed an executive order supporting a federal eVTOL pilot program. That policy shift has helped shine a spotlight on air mobility innovations and signaled potential defense interest in the space. Joby's CEO said in an interview that the company is seeing 'incredible momentum' from the U.S. Department of Defense (DoD) side. Live Events Joby also announced plans to double production at its main plant, aiming to scale up delivery as demand for eVTOL solutions grows. How is Joby stock performing short- and long-term? Short-term outlook Joby is currently riding strong bullish momentum, with technical indicators pointing to continued upside . Analysts expect it could climb to $16–$17 in the near term, though volatility remains high. Long-term forecast Wall Street is more cautious about the long game: Consensus 12-month price target: ~$9.33, implying potential downside from current levels. Forecasts vary widely: some models predict a drop to $5–7 by 2026, while bullish scenarios keep it above $13. Why the skepticism? Despite all the buzz, Joby still brings in very little revenue (~$136K in 2024) and remains unprofitable . Joby's soaring stock reflects real excitement about its future, but it also comes with big risks: Bull case: The company is leading the race in eVTOL with FAA progress, international pilots, and physical infrastructure already under development. If it executes well, it could dominate the flying taxi space. Bear case: With no meaningful revenue yet and high costs, Joby remains a speculative play . A misstep in certification or commercial rollout could quickly deflate the hype. Who is JoeBen Bevirt, the man behind Joby? JoeBen Bevirt, 51, is an engineer, inventor, and now billionaire entrepreneur. He founded Joby Aviation back in 2009 with a futuristic vision of transforming urban mobility through electric air taxis. Education: Mechanical Engineering degrees from UC Davis and Stanford. Career: Before launching Joby, he founded successful tech companies like Joby (the camera gear maker) and robotics startup Velocity11. Inventions: He holds 160+ patents , many tied to eVTOL tech. Equity: He owns about 12% of Joby , now worth over $1.3 billion thanks to the recent stock rally. What makes Joby's flying taxi different from others? Joby's eVTOL aircraft is designed to fly up to 200 miles per hour, land and take off vertically without a runway, and produce 100 times less noise than helicopters. The company hopes to make city travel faster and more sustainable by flying over congested roads and offering point-to-point service. One of its most anticipated routes is from lower Manhattan to JFK Airport, which could take as little as seven minutes. CEO Bevirt says the pricing will be comparable to an Uber Black ride, making it accessible to more travelers. Joby's three-part strategy includes direct operations, selling aircraft to others, and forming regional partnerships—like the one it announced with Virgin Atlantic earlier this year to launch air taxi services at London Heathrow and Manchester airports. Is the eVTOL industry ready for takeoff? The eVTOL market is gaining serious attention as cities look for cleaner, faster transportation options. Unlike helicopters, electric air taxis produce no emissions and less noise. They also show promise in rescue missions and remote-area transportation. According to market research, the eVTOL sector is expected to grow from $1.76 billion in 2024 to $24.1 billion by 2031, at a CAGR of 51.6%. That kind of growth is fueling investor excitement—not just in Joby, but also in rivals like Archer Aviation, which has also seen its stock climb recently. Toyota, a major backer of Joby, reinforced its support in October 2024 with a $500 million investment, and Joby closed the first $250 million tranche this year. The funding is aimed at fast-tracking certification and manufacturing processes. What risks still hang over Joby Aviation's future? Despite the excitement, Joby Aviation hasn't yet started commercial operations. It still needs to secure final approvals from aviation regulators, ramp up manufacturing, and win over public trust. That means no current revenue from flying passengers, and plenty of hurdles still lie ahead. Safety concerns, battery reliability, and affordability remain key issues. Battery-powered aircraft face risks like thermal failure, while many customers are still unsure about flying taxis in general. Financially, Joby's valuation is stretched, trading at a price-to-book (P/B) ratio of 11.09x, far above its industry average and competitor Archer Aviation. Both Joby and Archer carry a Zacks Value Score of F, suggesting their current stock prices may be too high relative to fundamentals. Should investors buy or wait on JOBY stock? With all the buzz around electric flying taxis, Joby Aviation seems like a company of the future. But from an investor's point of view, the stock is still a speculative bet. Zacks currently ranks JOBY a #4 (Sell), citing valuation concerns and uncertainty around commercialization. While Joby has secured strong partnerships, completed key test flights, and is scaling up production, real profitability may still be years away. As always, investors should weigh the potential rewards against the risks of investing in a still-developing market. Stock Price : $13.92 (up 160% since April) CEO Stake : 12% ($1.3 billion value) Speed of Aircraft : 200 mph Noise Reduction : 100x quieter than helicopters Target Launch Route : Manhattan to JFK – 7 minutes Production Goal : Up to 500 aircraft/year in Dayton Market Growth : $1.76B (2024) → $24.1B (2031), CAGR 51.6% Recent Toyota Investment : $500 million Valuation (P/B) : 11.09x Zacks Rank : #4 (Sell) Joby Aviation might be flying high right now, but investors should approach with caution. The vision is bold, the momentum is real, but the challenges are just as large. Until commercial flights take off and earnings follow, JOBY remains a stock driven more by promise than profits. FAQs: What is Joby Aviation's electric flying taxi? Joby Aviation makes eVTOL air taxis that fly quietly, without emissions, for fast urban trips. Why is Joby Aviation stock going up? Joby stock rose after Dubai test flights, U.S. policy support, and plans to boost production.
