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Joby Grows Dayton Manufacturing Footprint to 1.2M Square Feet with New Facility Acquisition
Joby Aviation acquired a $61.5 million facility to more than double production capacity to four eVTOL aircraft monthly by 2027, boosting Ohio aerospace manufacturing.
- Joby Aero, Inc. announced the purchase of the Capstone Way building in Dayton/Vandalia, Ohio, for $61.5 million, adding more than 700,000 square feet and more than doubling its Ohio manufacturing footprint.
- Last year, Joby Aviation, Inc. set production targets to more than double capacity to four aircrafts a month by 2027 and began procuring required equipment last month.
- The Capstone Way building was built on-spec by Pinchal & Co. and previously sold for just over $2.8 million, with Bevirt stating, "This site will not only support our near-term plan to double production, it can also serve as a base for significant future growth."
- The deal will create new Ohio jobs and Joby expects Dayton-area operations to begin later this year while retaining its Concorde Drive plant near Dayton International Airport.
- Policy developments from U.S. Department of Transportation and Federal Aviation Administration provide a roadmap as Joby and Archer Aviation Inc. scale manufacturing in recent months amid rising competition.
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Joby's $61.5 Million Ohio Move Signals Big Plans For Electric Flight - Joby Aviation (NYSE:JOBY)
Joby Aviation, Inc. (NYSE:JOBY) shares are trading slightly higher in the premarket session on Thursday. On Wednesday, the firm announced plans to expand its U.S. manufacturing footprint by acquiring a major Ohio aerospace facility in a deal valued at $61.5 million. Details The electric air taxi developer secured a 700,000-square-foot site near Dayton to support future production growth. The new plant will help Joby reach a monthly output of fou…
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Air taxi maker Joby buys new Ohio factory, more than doubles manufacturing footprint as it vies for FAA approval
Joby's expansion comes as electric air taxi companies race to gain Federal Aviation Administration certification to start flying their aircrafts commercially.
·United States
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Total News Sources12
Leaning Left0Leaning Right2Center5Last UpdatedBias Distribution71% Center
Bias Distribution
- 71% of the sources are Center
71% Center
C 71%
R 29%
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