Joby Aviation Surges Over 24% After Major Toyota Investment

2 ต.ค.

Joby Aviation (NYSE: JOBY) saw its stock soar by over 24% to $5.99 after a significant announcement that Toyota will invest an additional $500 million into the electric air taxi company. This brings Toyota’s total investment in Joby (NYSE: JOBY) to $894 million, underscoring the automaker’s commitment to the future of urban air transportation.

Toyota’s Investment and Strategic Partnership
Toyota’s new investment is not just a financial endorsement but also a strategic partnership aimed at advancing the certification and commercial production of Joby's electric vertical takeoff and landing (eVTOL) aircraft. The investment will come in two equal installments, the first to be completed in 2024 and the second in 2025, further cementing the relationship between the two companies.

Toyota has been involved with Joby (NYSE: JOBY) for almost seven years, providing technical expertise, components, and manufacturing support for the company’s air taxis. Toyota’s engineers are embedded with Joby’s team in California, working closely on the development of these groundbreaking aircraft. This partnership goes beyond just capital infusion, as Toyota also signed a long-term agreement to supply key powertrain and other critical components for Joby’s aircraft.

Other automakers are also eyeing the electric air taxi space, signaling a broader interest in sustainable urban transportation solutions. For instance, Stellantis recently invested $55 million in Archer Aviation, while Delta Airlines has a $60 million stake in Joby, aiming to offer air taxi services for passengers traveling to and from major airports in cities like New York and Los Angeles.

With this backing, Joby Aviation is positioning itself as a leader in the electric air taxi market, which aims to reduce urban traffic congestion and lower carbon emissions. The company has already rolled out its third aircraft from its pilot production line and is expanding its manufacturing capabilities. Joby is targeting a commercial deployment of its air taxis in the next few years.

Technical Aspect: Bullish Momentum
From a technical perspective, Joby’s stock has been in a downtrend since August 2024 but showed a strong reversal with today’s surge. As of this writing, the stock is up over 25%, with a Relative Strength Index (RSI) of 66.19, indicating bullish momentum. The stock has now broken above key moving averages, a positive sign for traders and investors looking at technical patterns.

If the bullish trend continues, JOBY could aim to revisit its July highs, as today’s price action suggests a potential shift in the overall market sentiment for the stock. The recent investment news provides a strong fundamental backdrop, and if Joby continues to demonstrate progress in its production and certification milestones, the stock could see sustained upside.

With Toyota’s deepening involvement and the broader market’s growing interest in sustainable air travel, Joby Aviation is positioned to become a major player in the electric aviation space. Investors should keep an eye on upcoming developments, particularly Joby’s progress in certification and commercial production, which could serve as major catalysts for the stock.

Conclusion
Joby Aviation’s (NYSE: JOBY) recent surge in stock price, buoyed by Toyota’s additional $500 million investment, is a positive signal for both the company’s future and its investors. The strong technical performance, with the stock trading above key moving averages and a bullish RSI, suggests that JOBY may have broken out of its recent downtrend. Coupled with a strong fundamental outlook, including strategic partnerships with Toyota and Delta Airlines, the company is well-positioned to revolutionize urban air transportation. Keep an eye on this stock as it could be poised for more gains, especially as the market for eVTOL technology heats up.