Joby Aviation (NYSE:JOBY) stock is in the news Friday after the electric vertical takeoff and landing (eVTOL) company announced a partnership to expand its infrastructure in Japan.
Joby Aviation is teaming up with ANA Holdings and Nomura Real Estate Development to set up take-off and landing infrastructure in the country. These vertiports would be used to assist in the development of air taxi services in Japan.
Joby Aviation notes that this deal will have the company focusing on creating these vertiports in metro areas, such as Tokyo. Its eVTOL is capable of carrying a pilot and four passengers at speeds of up to 200 mph for quick travel around cities.
Today’s announcement builds on a previous relationship between Joby Aviation and ANA Holdings. The two started working together in 2022 with the intent of bringing air taxi services to the country.
JOBY Stock Movement on Friday
Following today’s announcement, shares of JOBY stock are rising 1.4% higher. That comes as roughly 1.4 million shares of the company’s stock change hands. For the record, the daily average trading volume for Joby Aviation’s shares is closer to 5.8 million units.
JOBY isn’t the only stock that we’re offering all of the latest coverage for on Friday!
Our insight includes plenty of other stock market stories that traders are going to want to read about today! A few examples include everything happening with Rivian (NASDAQ:RIVN) layoffs, an analyst upgrade for First Solar (NASDAQ:FSLR) stock, as well as what has Avid Bioservices (NASDAQ:CDMO) stock falling today. You can read up on all of these matters by checking out the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
