Simultaneously, Joby revealed that its sixth aircraft completed its maiden flight and received FAA airworthiness certification within a week of roll-out. Toyota engineers are now deeply integrated on its factory floor as its $500 million investment last year starts bearing fruit.

Shares of Joby Aviation ( JOBY 15.91%) are rising on Wednesday, up 13.2% as of 12:54 p.m. ET. The jump comes as the S&P 500 and Nasdaq Composite were both down modestly. Joby, which develops electric vertical takeoff and landing (eVTOL) aircraft, announced yesterday that it will double production in its Marina, California, manufacturing site.

Joby Aviation has doubled the size and production capacity of its pilot manufacturing facility in Marina, California as it races to commercialize electric air taxis by early next year.

Shares of Joby Aviation ( JOBY 9.34%) were flying high Tuesday, soaring as much as 10.3%. As of 3:12 p.m. ET, the stock was still up 9.1%. The catalyst that sent the electric vertical takeoff and landing (eVTOL) aircraft specialist higher was an announcement that the company is expanding its manufacturing capacity.

The Toyota-backed electric flying taxi developer Joby has announced the expansion of its site in Marina, California. This will also provide more space for

At a time when the company’s shares (NYSE:JOBY) are soaring, Joby also announced the expansion of its production site in Marina. The California site now spans some 435,500 square feet. Once fully operational, the expanded California site is expected to be able to produce up to 24 aircraft a year, the company said.

Joby Aviation (NYSE:JOBY), a pioneer in electric vertical takeoff and landing (eVTOL) aircraft, has seen its stock price surge, reflecting growing investor confidence in its commercialization prospects.