Simultaneously, Joby revealed that its sixth aircraft completed its maiden flight and received FAA airworthiness certification within a week of roll-out. Toyota engineers are now deeply integrated on its factory floor as its $500 million investment last year starts bearing fruit.

Shares of Joby Aviation ( JOBY 15.91%) are rising on Wednesday, up 13.2% as of 12:54 p.m. ET. The jump comes as the S&P 500 and Nasdaq Composite were both down modestly. Joby, which develops electric vertical takeoff and landing (eVTOL) aircraft, announced yesterday that it will double production in its Marina, California, manufacturing site.

Joby Aviation (NYSE:JOBY), a pioneer in electric vertical takeoff and landing (eVTOL) aircraft, has seen its stock price surge, reflecting growing investor confidence in its commercialization prospects.