Air taxis moved one step closer to commercialization this week. Joby Aviation has heavyweight backers, including Toyota, which is helping ensure the commercial viability of its growth plans. The expansion is a key part of its growth plan as it prepares to scale up production of its air taxis in anticipation of entering the market.

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.

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.