Joby Aviation (NYSE:JOBY) stock is on the move Tuesday after the electric verticle takeoff and landing (eVTOL) company announced plans for its first air taxi charger in the New York City region.
Joby Aviation has signed an agreement with Helo Holdings for this air taxi charging station. This will see the charger added to its heliport in Kearny, New Jersey.
Investors in JOBY stock will note that the company has already worked with Helo in the past to store its eVTOLs at Helo’s facilities. It also bears mentioning that the Kearny, New Jersey heliport is only a two-minute flight from Manhatten.
Joby Aviation founder and CEO JoeBen Bevirt said the following about the news:
“We’re pleased to expand our partnership with HHI as we prepare to install our GEACS charging system at Kearny Heliport. Kearny is expected to become the first heliport with an air taxi charger in the tri-state area and enable the launch of our quiet, emissions-free air taxi service in the greater New York City region.”
How This Affects JOBY Stock
Joby Aviation is getting ever closer to the launch of its commercial air taxi service, and that has investors excited. Today’s news marks another step toward this launch and builds on other progress made this year.
With that in mind, it makes sense that JOBY stock is up 4% as of Tuesday morning.
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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.
