Joby Aviation (JOBY) Jumps 10.45% as Firm Doubles Down on Production

We recently published Lackluster Tuesday? Not for These 10 Stocks on Sky High. Joby Aviation, Inc. (NYSE:JOBY) is one of Tuesday's top performers.

Joby Aviation saw its share prices increase by 10.45 percent on Tuesday to close at $13.95 apiece following news that it was doubling down on its production plans through the expansion of its facility in Marina, California.

In a statement on the same day, Joby Aviation, Inc. (NYSE:JOBY) said that it is underway with the expansion of its Marina facility to 435,500 square feet. Upon completion and full operations, the site would be capable of producing 24 aircraft per year, or an average of one aircraft every other week. It will also provide key capabilities, including its initial FAA production certification, conforming ground and flight testing components, pilot training simulators, and aircraft maintenance.

The Marina facility forms part of Joby Aviation, Inc.’s (NYSE:JOBY) total of four manufacturing sites, including two in Santa Cruz, California and one in Dayton, Ohio, which is also set for expansion to accommodate the production of 500 aircraft annually.

In other news, Joby Aviation, Inc. (NYSE:JOBY)—based on its historical earnings reporting dates—is expected to release the results of its second quarter earnings performance in the first week of August 2025.

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Disclosure: None. This article is originally published at Insider Monkey.