Joby Aviation to invest $500M in new air taxi factory in Ohio

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Joby Aviation, a developer of electric vertical takeoff and landing (eVTOL) aircraft, has announced that it will invest up to $500 million to build a new manufacturing facility in Dayton, Ohio.

The new facility will be the company’s first serial production location, and is expected to produce up to 500 aircraft per year by 2025. The Dayton site is located at Dayton International Airport and covers 140 acres.

Joby says it plans to begin hiring immediately, and expects to start construction on the new production facility in 2024. The facility is expected to create 2,000 jobs and support manufacturing facilities that could take up more space than the Pentagon.

Joby’s eVTOL aircraft are designed to provide short-distance transportation services, such as air taxi rides and cargo delivery. Its business model more closely resembles rideshare apps, where customers can request a ride on an air taxi owned and operated by the company.

Joby has been flying full-scale aircraft since 2017, and unveiled its first production-representative prototype in June. The prototype has a capacity of four passengers and a pilot, and can travel up to 150 miles on a single charge.

The company is currently working to obtain FAA certification for its eVTOL aircraft, and expects to begin commercial passenger service in 2025.

The sources for this piece include an article in Reuters.

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