Here's Why Joby Aviation Stock Took Off Vertically This Week

Market analysis shows expansion is a key part of its growth plan as it prepares to scale up duction of its air taxis in anticipation of entering the market, given current economic conditions

Heavyweight backing There's no shortage of investment in the electric vertical takeoff and landing (eVTOL) market, and several competitors are air taxis

Still, as Tesla investors will argue regarding their company's robotaxi ambitions, the company that has the ability, know-how, and financial resources to create a commercially viable duct will ultimately prevail

That observation equally applies to Joby Aviation, and while it doesn't have a manufacturing history behind it (un Tesla), it does have the substantive backing of a company that does, Toyota Motor (this bears monitoring)

It also has received investment from two transportation heavyweights, Uber nologies and Delta Air Lines

Moreover, Toyota's investment (totaling $890 million) includes a recent $250 million investment "aimed at supporting certification and commercial duction of Joby's electric air taxi," and Joby's CEO, JoeBen Bevirt, has previously lauded Toyota's help in "lining manufacturing cesses and optimizing design. " Image source: Joby Aviation

Furthermore, Moreover, The backing of Toyota is significant and vides strong support for the idea that Joby Aviation's air taxis will scale up commercially, as does this week's news

Meanwhile, Lee Samaha has no position in any of the stocks mentioned

Furthermore, The Motley Fool has positions in and recommends Tesla and Uber nologies

The Motley Fool recommends Delta Air Lines, given the current landscape

Additionally, This tells us that Motley Fool has a disclosure policy.