Joby Aviation Breaks Ground On Expansion Of Its Pilot Production Line In Marina, California; Expansion Funded In Part By $9.8M California Competes Grant
Portfolio Pulse from Benzinga Newsdesk
Joby Aviation is expanding its pilot production line in Marina, California, with the expansion funded partly by a $9.8M California Competes Grant. This will more than double its manufacturing footprint at the Marina Municipal Airport, aiming for a production rate of 25 aircraft per year, with operations expected to start next year.
April 29, 2024 | 8:36 pm
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Joby Aviation's expansion of its production line in Marina, California, funded by a $9.8M grant, aims to double its manufacturing capacity with a target of 25 aircraft per year.
The expansion of Joby Aviation's production line, supported by significant state funding, directly impacts its operational capacity and growth potential. This move is likely to be viewed positively by investors, as it signifies both government support and Joby's commitment to scaling up production. The increased manufacturing footprint and the target production rate are critical factors that could enhance Joby's market position and future revenue streams, thus potentially leading to a positive short-term impact on its stock price.
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