NYSE - Nasdaq Real Time Price • USD Joby Aviation, Inc. (JOBY) Follow Compare 5.55 +0.13 (+2.40%) At close: October 16 at 4:00 PM EDT 5.56 +0.01 (+0.18%) Pre-Market: 6:05 AM EDT All News Press Releases SEC Filings All SEC Filings Corporate Changes & Voting Matters Periodic Financial Reports Proxy Statements Tender Offer/Acquisition Reports Offering Registrations Toyota Bets $1 Billion On Flying Taxis; Joby Aviation Reverses Lower Joby Aviation stock plummeted Thursday after surging 28% Wednesday following Toyota announcing an additional $500 million investment into Joby Aviation, bringing the legacy automaker's total stake in Joby to more that $890 million to support the commercial production of the startup's electric air taxi. Shares of Joby declined 8.7% to 5.61 during Thursday's market action. On Wednesday, Joby Aviation stock rocketed 28% to 6.14. Why Toyota is betting on Joby's electric air taxis Joby Aviation (JOBY) has received $500 million in additional funding from Toyota (TM), bringing Toyota's total investment in the aerospace company to nearly $1 billion. Joby Aviation CEO JoeBen Bevirt joins Catalysts to discuss the news and the company's efforts to get its electric air taxis into the skies. "The Toyota family has had a dream of building aircraft for daily transportation since the founding of Toyota, and that has been passed down through the generations. And so now, we've had a relationship with Toyota for seven years ... We've expanded the partnership. We've had Toyota engineers working on-site with us in California, helping to design our processes and bring the incredible quality that Toyota is known for to aviation manufacturing. And so this is just an incredibly exciting time," Bevirt tells Yahoo Finance. He notes that with the funding, Joby is seeking to achieve a run-rate capacity of one aircraft a month by the end of the year. He explains that Joby will be expanding its operations in Marina, Calif., and is hiring new employees for its facility in Ohio. "We are beginning the baby steps of the early part of this journey, but with Toyota at our side, we have the capacity to take this to another level," Bevirt adds. The Federal Aviation Administration (FAA) has not ruled on its certification guidelines for electric vertical take-off and landing (eVTOL) aircraft. However, Bevirt explains that the FAA "is actually ahead of schedule," and a ruling may come soon. He explains, "We're very transparent about our progress. And every quarter, we release exactly how far Joby is and exactly the progress that the FAA has made on each of the five stages of certification. And this last quarter, we showed that we're more than a third of the way through stage four on the Joby side and the FAA is making great progress. And we're expecting that progress to continue to accelerate on both our side and the FAA side as we move into the back half of this year." Bevirt highlights that Joby's aircraft is faster than using ground transportation, noting it can "move more people more miles per hour." Thus, the company will be able to compete with services like Uber Black (UBER) while providing quicker transportation. He adds that Joby will be launching a piloted service in cities like New York and Los Angeles, arguing that it is a great way for consumers to travel while also fitting into the existing aviation ecosystem. For more on Joby, be sure to check out this episode of Yahoo Finance's NEXT series, where Catalysts host Madison Mills gets a firsthand look at Joby's electric air taxis. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Melanie Riehl Toyota To Invest $500 Million in Joby Aviation Toyota Motor Corporation (Toyota; NYSE: TM) and Joby Aviation, Inc. (Joby; NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today announced that Toyota will invest an additional $500 million to support the certification and commercial production of Joby's electric air taxi, with the aim of realizing the two companies' shared vision of air mobility. Joby Applies to Become First Certified Electric Air Taxi Operator in UAE SANTA CRUZ, Calif., September 10, 2024--Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today announced it has taken the first step towards becoming a certified air taxi operator in the United Arab Emirates. In the Quest for Electric Planes, Hybrid May Be the Answer Batteries alone can’t get planes far enough for most flights. But airplane manufacturers are hoping a hybrid plane could be the best way to go. Joby Demonstrates Autonomous Flight in United States Air Force ‘Agile Flag’ Exercise SANTA CRUZ, Calif., August 26, 2024--Joby Aviation, Inc. (NYSE:JOBY), a next-generation aviation company, today announced that it demonstrated autonomous logistics aircraft operations in an evolving mission environment, in partnership with the U.S. Air Force during the ‘Agile Flag 24-3’ exercise. Joby Rolls Third Aircraft Off Production Line, Reports Second Quarter 2024 Financial Results SANTA CRUZ, Calif., August 07, 2024--Joby Aviation, Inc. (NYSE:JOBY), a next-generation aviation company, today announced it has rolled its third production prototype aircraft off the company’s pilot production line in Marina, CA, with four aircraft expected to be in active flight test during the next quarter. The news came as the company issued its Second Quarter 2024 Shareholder Letter, detailing the Company’s operational and financial results for the period ending June 30, 2024. The company w Joby Applies for Aircraft Certification in Australia SANTA CRUZ, Calif., August 06, 2024--Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today announced it has formally applied for its revolutionary aircraft to be certified for use in Australia. Institutional owners may consider drastic measures as Joby Aviation, Inc.'s (NYSE:JOBY) recent US$418m drop adds to long-term losses Key Insights Given the large stake in the stock by institutions, Joby Aviation's stock price might be vulnerable to... Joby Aviation to Report Second Quarter 2024 Financial Results SANTA CRUZ, Calif., July 24, 2024--Joby Aviation, Inc. (NYSE:JOBY), a company developing all-electric aircraft for commercial passenger service, today announced that it expects to release its second quarter 2024 financial results after market close on Wednesday, August 7, 2024, and to host a webcast at 5:00 pm ET the same day. The webcast will be publicly available in the Upcoming Events section of the company website, www.jobyaviation.com. If unable to attend the webcast, to listen by phone, pl Joby Demonstrates Potential for Emissions-Free Regional Journeys With Landmark 523-Mile Hydrogen-Electric Flight SANTA CRUZ, Calif., July 11, 2024--Joby Aviation, Inc. (NYSE:JOBY), a next generation aviation company, today announced it has successfully flown a first-of-its-kind hydrogen-electric air taxi demonstrator 523 miles, with water as the only by-product. The aircraft, which takes off and lands vertically, builds on Joby’s successful battery-electric air taxi development program, and demonstrates the potential for hydrogen to unlock emissions-free, regional journeys that don’t require a runway. We're Not Very Worried About Joby Aviation's (NYSE:JOBY) Cash Burn Rate There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although... Joby Announces ‘ElevateOS’ Software Suite for Air Taxi Operations SANTA CRUZ, Calif., June 20, 2024--Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today announced it has received Federal Aviation Administration ("FAA") authorization to use a suite of software tools developed in-house, called ‘ElevateOS’, that are designed to enable high-tempo, on-demand air taxi operations. Joby Acquires Xwing Autonomy Division, Looks Ahead to Autonomous Flight SANTA CRUZ, Calif., June 04, 2024--Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today announced the acquisition of the autonomy division of Xwing Inc., an industry leader in the development of autonomous technology for aviation. Joby to Present "Pre-Flight Checklist: An Introduction to Joby Air Taxi Operations" SANTA CRUZ, Calif., May 30, 2024--Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today announced it will host a virtual presentation on the Company’s preparations for commercial service on June 20, 2024. Joby Partners with Mukamalah Aviation SANTA CRUZ, Calif. & DHAHRAN, Saudi Arabia, May 21, 2024--Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today announced it has signed a Memorandum of Understanding (MoU) with Mukamalah, a wholly owned subsidiary of Saudi Aramco, the operator of the world’s largest fleet of corporate aircraft, to introduce Joby’s aircraft to the Kingdom of Saudi Arabia. Joby Reports First Quarter 2024 Results SANTA CRUZ, Calif., May 07, 2024--Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today issued its First Quarter 2024 Shareholder Letter detailing the Company’s operational and financial results for the period ending March 31, 2024. The company will host a live audio webcast of its conference call to discuss the results at 2:00 p.m. PT (5:00 p.m. ET) today. Joby Progresses to Next Phase of Aircraft Flight Test Program SANTA CRUZ, Calif., May 02, 2024--Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today announced it has successfully completed its pre-production flight test program and is now focused on the next phase of flight testing, during which the Company will use its production prototype aircraft to prepare for upcoming for-credit flight testing. Joby Expands California Manufacturing Facility, Rolls Second Aircraft Off Production Line SANTA CRUZ, Calif., April 29, 2024--Joby Aviation, Inc. (NYSE: JOBY), a company developing electric air taxis for commercial passenger service, today announced it has broken ground on the expansion of its Pilot Production Line in Marina, California. The expansion will more than double Joby’s manufacturing footprint at the Marina Municipal Airport and is expected to begin operations next year. Joby Partners with Abu Dhabi to Establish Electric Air Taxi Ecosystem SANTA CRUZ, Calif. & ABU DHABI, United Arab Emirates, April 25, 2024--Joby Aviation, Inc. (NYSE:JOBY), a company developing all-electric aircraft for commercial passenger service, today announced it has signed a multilateral Memorandum of Understanding (MoU) with the Department of Municipalities and Transport - Abu Dhabi (DMT), the Abu Dhabi Department of Economic Development (DED) and the Department of Culture and Tourism - Abu Dhabi (DCT Abu Dhabi) that lays the groundwork for Joby to establis Performance Overview Trailing total returns as of 10/16/2024, which may include dividends or other distributions. Benchmark is S&P 500 Return JOBY S&P 500 YTD -16.54% +22.49% 1-Year -10.77% +35.00% 3-Year -35.91% +30.66%