Joby Aviation (JOBY) Doubles Capacity and Vertiport Buildout Progress Is the Scaling Logic Coherent?

• In recent months, Joby Aviation has expanded its air-taxi push by partnering with Metropolis Technologies to develop up to 25 vertiports across the U.S., progressing flight testing with Toyota in Japan and advancing plans for commercial eVTOL operations in the Middle East and United States.
• Amid ongoing losses and uncertain certification timing, Joby’s decision to double manufacturing capacity and invest in infrastructure signals a commitment to scaling its network ahead of widespread passenger service.
• We’ll now examine how Joby’s vertiport partnership and manufacturing expansion shape its investment narrative and long-term air-taxi commercialization prospects.

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What Is Joby Aviation's Investment Narrative?

For Joby, being a shareholder means buying into the idea that electric air taxis become a real, scalable transport network, not just a demo project. The Metropolis vertiport partnership and plans to double U.S. manufacturing capacity strengthen that story by tying aircraft production to actual infrastructure and clearer regulatory backing, including support for the U.S. Advanced Air Mobility strategy and Middle East launch ambitions. In the near term, though, the key catalysts still look familiar: progress on FAA certification, concrete timelines for first paid services and evidence that global trials can translate into repeatable routes and contracts. Against rising annual losses and ongoing dilution, the new announcements feel directionally important but not a complete re-set, especially with certification delays and profitability still some distance away.

However, one risk stands out that many investors might be underestimating. Our valuation report unveils the possibility Joby Aviation's shares may be trading at a premium.

Exploring Other Perspectives

Fifteen Simply Wall St Community estimates span from close to zero to above US$20 per share, underscoring wildly different expectations. Set against Joby’s rising losses and uncertain certification timing, this spread shows why it helps to weigh several contrasting viewpoints before forming a view on the stock’s long-term potential.

Explore 15 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.

• A great starting point for your Joby Aviation research is our analysis highlighting 1 key reward and 3 important warning signs that could impact your investment decision.
• Our free Joby Aviation research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Joby Aviation's overall financial health at a glance.

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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.

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