Joby Aviation, Inc. (JOBY) shares traded slightly higher in Thursday's premarket session after the electric air taxi maker announced a significant manufacturing expansion. The company is dropping $61.5 million to acquire a major aerospace facility in Ohio, signaling serious ambitions for scaled production.

The Facility Deal

Joby secured a 700,000-square-foot site near Dayton that's designed to support some pretty aggressive growth plans. The goal? Hitting a monthly output of four aircraft by 2027. That's a doubling of production capacity, and the space is built to accommodate even more expansion down the line if demand materializes.

Operations at the new location are expected to kick off later this year. The facility will work alongside production sites already running in California and Ohio, creating a multi-state manufacturing network.

Founder and CEO JoeBen Bevirt framed the move as a transition point for the company. "This site will not only support our near-term plan to double production, it can also serve as a base for significant future growth," Bevirt said. Translation: they're building for scale, not just hitting immediate targets.

Why Ohio Makes Sense

Dayton isn't a random choice. The region sits right next to Wright-Patterson Air Force Base and is literally where powered flight was born. That history comes with a deep bench of aerospace workers and supportive local policy, both of which matter when you're trying to build aircraft at volume.

Ohio Gov. Mike DeWine highlighted the connection between the state's aviation legacy and next-generation aircraft development. Sen. Bernie Moreno (R-OH) pointed to national industrial policy as a catalyst for bringing advanced manufacturing back to the state.

Sen. Jon Husted (R-OH) emphasized the skilled job creation angle, while Rep. Michael Turner (D-OH) tied it back to Dayton's Wright Brothers heritage. There's clear bipartisan enthusiasm for the project.

Federal Support and Industry Competition

Joby's expansion coincides with federal efforts to accelerate advanced air mobility. The U.S. Transportation Department is set to roll out the eVTOL Integration Pilot Program in 2026, which should help validate these aircraft for commercial use.

The company has been busy elsewhere too. It recently expanded its Marina, California plant and launched propeller blade production in Ohio. Equipment purchases for increased assembly capacity are already underway.

The obvious comparison here is Archer Aviation Inc. (ACHR), which is chasing the same urban air mobility market. Both companies are racing to prove they can manufacture electric vertical takeoff and landing aircraft at scale and actually make the economics work.

JOBY Price Action: Joby Aviation shares were up 1.54% at $15.79 during premarket trading on Thursday.