Joby Aviation, Inc. (JOBY) shares traded slightly higher in Thursday's premarket session after the electric air taxi maker announced a significant manufacturing expansion. The company is dropping $61.5 million to acquire a major aerospace facility in Ohio, signaling serious ambitions for scaled production.
The Facility Deal
Joby secured a 700,000-square-foot site near Dayton that's designed to support some pretty aggressive growth plans. The goal? Hitting a monthly output of four aircraft by 2027. That's a doubling of production capacity, and the space is built to accommodate even more expansion down the line if demand materializes.
Operations at the new location are expected to kick off later this year. The facility will work alongside production sites already running in California and Ohio, creating a multi-state manufacturing network.
Founder and CEO JoeBen Bevirt framed the move as a transition point for the company. "This site will not only support our near-term plan to double production, it can also serve as a base for significant future growth," Bevirt said. Translation: they're building for scale, not just hitting immediate targets.
Why Ohio Makes Sense
Dayton isn't a random choice. The region sits right next to Wright-Patterson Air Force Base and is literally where powered flight was born. That history comes with a deep bench of aerospace workers and supportive local policy, both of which matter when you're trying to build aircraft at volume.
Ohio Gov. Mike DeWine highlighted the connection between the state's aviation legacy and next-generation aircraft development. Sen. Bernie Moreno (R-OH) pointed to national industrial policy as a catalyst for bringing advanced manufacturing back to the state.
Sen. Jon Husted (R-OH) emphasized the skilled job creation angle, while Rep. Michael Turner (D-OH) tied it back to Dayton's Wright Brothers heritage. There's clear bipartisan enthusiasm for the project.