Joby Aviation JOBY, a leading player in the electric vertical takeoff and landing (eVTOL) space, announced plans to expand operations. To this end, the transportation company announced the expansion of its site in Marina,

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.