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    How Investors Are Reacting To Joby Aviation (JOBY) Expanding Production And Building A Vertiport Network

    Simply Wall St·12/20/2025 15:22:58
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    • In recent days, Joby Aviation announced plans to double its U.S. manufacturing capacity to four eVTOL aircraft per month by 2027 and unveiled a partnership with Metropolis Technologies to develop 25 vertiports across the country, integrating AI-enabled parking and baggage services into early air taxi markets.
    • Together, these moves push Joby beyond pure aircraft development toward building the ground infrastructure and production footprint needed for a functioning air taxi network.
    • We’ll now look at how this manufacturing ramp-up, supported by Toyota and the Metropolis vertiport partnership, shapes Joby’s investment narrative.

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    What Is Joby Aviation's Investment Narrative?

    To own Joby today, you have to believe eVTOLs can evolve from test programs and government pilots into a scaled transport service, and that Joby can be one of the operators that reaches commercial maturity first. The recent plan to double U.S. capacity to four aircraft per month by 2027, backed by Toyota, and the Metropolis deal for 25 vertiports both lean into that story: management is committing real capital to move from prototypes and trials toward an actual network. In the near term, key catalysts still sit around FAA progress, early operations in places like Dubai and Saudi Arabia, and proof that Blade and other partnerships can generate repeat, paying passengers. The flip side is that Joby remains deeply unprofitable, trades on a rich price to book multiple, and could need more funding, so the stepped-up manufacturing and infrastructure spend slightly raise the execution and financing risks that were already front of mind.

    However, one risk around funding this expanded build out is easy to overlook, and investors should not. Our comprehensive valuation report raises the possibility that Joby Aviation is priced higher than what may be justified by its financials.

    Exploring Other Perspectives

    JOBY 1-Year Stock Price Chart
    JOBY 1-Year Stock Price Chart
    Thirteen fair value estimates from the Simply Wall St Community span from almost zero to about US$12, underlining just how far apart views are. Set that against Joby’s heavy losses and capital needs, and it becomes clear why you might want to weigh several of these perspectives before forming your own expectations.

    Explore 13 other fair value estimates on Joby Aviation - why the stock might be worth less than half the current price!

    Build Your Own Joby Aviation Narrative

    Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.