What Happened
Electric Air Taxi Company Gains Momentum
Joby Aviation, an electric air taxi company, has seen its stock price surge over 30% in a single day, reaching a peak intraday price of $8.95. The company has received a $250M investment from Toyota, boosting its air mobility revolution. Joby Aviation is developing an all-electric, vertical take-off and landing air taxi, designed to transport a pilot and up to four passengers or an expected payload of up to 1,000 pounds. This development was reported by various sources, including TradingKey.