Joby Aviation Expands Manufacturing with $61.5 Million Aerospace Facility Acquisition in Ohio

Joby Aviation, Inc. (NYSE: JOBY) is advancing its plans to significantly scale production of electric vertical takeoff and landing (eVTOL) aircraft through the strategic acquisition of a major aerospace manufacturing site in Ohio. The company disclosed on Wednesday that it secured a 700,000-square-foot facility near Dayton in a transaction valued at approximately $61.5 million. This expansion marks a pivotal move in Joby's manufacturing footprint within the United States, designed to support anticipated production growth and long-term capacity increases. The newly acquired site will serve as an important asset to meet Joby's objective of achieving a monthly output rate of four aircraft by 2027. In addition to enabling this near-term ramp-up, the operation will function as a foundation for substantial future manufacturing scale-up. According to company projections, production activities at the Dayton-area location are slated to begin later in the current year, supplementing the firm’s already operational manufacturing sites in California as well as other locations within Ohio. JoeBen Bevirt, Joby’s founder and chief executive officer, emphasized that this facility would be instrumental in transitioning the company from its current engineering phase to mature, mass-production operations. Bevirt highlighted, "This site will not only support our near-term plan to double production, it can also serve as a base for significant future growth," underlining the critical role the Ohio location will play in Joby's development strategy. The decision to establish operations near Dayton is strategic, capitalizing on the region’s historical and ongoing aerospace significance. Dayton’s proximity to Wright-Patterson Air Force Base and its place in aviation history as the birthplace of powered flight contribute to a rich talent pool of aerospace professionals. Moreover, the area benefits from regional policy support for advanced manufacturing developments, which factored into Joby’s selection rationale. Government officials from Ohio have publicly endorsed Joby’s expansion. Governor Mike DeWine remarked that the project meaningfully bridges the state’s rich aviation heritage with the pioneering development of next-generation aircraft. Senator Bernie Moreno referenced national industrial initiatives as key drivers attracting advanced manufacturing investments like Joby’s to Ohio. Similarly, Senator Jon Husted viewed the growth as an opportunity to generate skilled employment and strengthen Ohio's manufacturing standing. Representative Michael Turner also acknowledged the project as a continuation of Dayton’s longstanding aviation legacy, originally established by the Wright Brothers. Joby’s manufacturing capacity growth coincides with broader federal efforts to accelerate the adoption of advanced air mobility technologies. Notably, the U.S. Department of Transportation plans to advance the eVTOL Integration Pilot Program by 2026, intended to facilitate the integration of eVTOL aircraft into the national transportation ecosystem. Preceding the Ohio acquisition, Joby expanded its existing facility in Marina, California, and initiated production of propeller blades in Ohio to build requisite components in-house. Additionally, the company has undertaken equipment procurement to increase assembly capacity, signaling a concerted scaling effort across multiple fronts. In the competitive urban air mobility market space, Joby Aviation is frequently compared to Archer Aviation Inc. (NYSE: ACHR), as both entities are actively developing eVTOL technologies aimed at transforming urban transportation modalities. Investor interest reflects this competition, with Joby’s shares trading modestly higher in premarket activity. Benzinga Pro data indicates a 1.54% increase, with shares priced at $15.79 during premarket trading on Thursday. Overall, Joby's substantial investment in Ohio marks a decisive advancement in its commercial trajectory, underpinned by strategic site selection, alignment with governmental support, and a clear production scale-up roadmap. The company continues to solidify its position within the evolving electric flight sector by enhancing manufacturing capabilities and preparing to meet projected aircraft demand amid expected regulatory and market developments.