Joby Aviation is no longer pitching vaporware. It’s building aircraft. The company just doubled its California manufacturing footprint to 435,500 square feet and rolled out its sixth FAA-certified air taxi. Production is now pacing toward 24 aircraft per year. That’s two per month. The Dayton, Ohio site is next, with tooling already installed and a target of 500 units annually. Dubai granted Joby exclusive air taxi rights for six years. The first vertiport is under construction at Dubai International Airport. Commercial flights are expected to begin in 2026.
The bullish setup is stacked. Joby completed piloted test flights in Dubai last week. The aircraft hit 200 mph with near-silent operation. Each unit carries one pilot and four passengers. The Dubai route from DXB to Palm Jumeirah takes 12 minutes. By car, it’s 45. Toyota engineers are embedded in Joby’s production line. Their $500 million investment is now driving throughput. President Trump signed an executive order in June to fast-track air taxi testing. That’s not a headline. That’s policy.
Joby’s sixth aircraft earned FAA airworthiness certification within seven days of completion. The company is vertically integrated. Design, manufacturing, pilot training, and maintenance are all in-house. The Marina facility uses 3D printing and data-driven quality control. Simulators are online. Ground testing is active. The Dayton site will handle scaled production. The goal is to industrialize flying cars. Not pitch decks. Not mockups. Real aircraft.
The stock trades at a $9.4 billion market cap with just $2 million in projected 2025 revenue. Net loss over the trailing twelve months is $596 million. Cash on hand is $813 million. Profitability is expected in 2029. That’s a long runway. Early flights will be premium priced. Access will be limited. Infrastructure is still being built. The tech is real. The margins aren’t.
But the momentum is obvious. Joby stock is up 216% since April. The sixth aircraft is flying. Dubai is locked in. The FAA is moving. The Dayton line is coming online.
Sources:
https://gizmodo.com/joby-aviation-has-a-bold-plan-to-make-flying-cars-real-fast-2000631581
https://moneymorning.com/2025/07/17/is-it-too-late-to-buy-joby-stock-after-its-explosive-rally/
https://www.jobyaviation.com/news/joby-expands-manufacturing-capacity/
https://www.cnbc.com/2025/07/15/joby-aviation-air-taxi-evtol-production.html