In the race to commercialize electric air taxis, competitors like Archer Aviation Inc (NYSE:ACHR) and EHang Holdings Ltd (NASDAQ:EH) are making noise. But Joby Aviation Inc (NYSE:JOBY) insists it holds a built-in advantage that rivals can't replicate – its vertical integration. That strategy, combined with Toyota Motor Corp‘s (NYSE:TM) backing and FAA (Federal Aviation Administration) momentum, could leave others struggling to keep up in the skies.
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Built To Fly, Built In-House
In an exclusive email interview, Joby argued its edge is simple: control everything. "We design and build our aircraft in-house, from the components of our aircraft to the flight software," the company said in an emailed response to Benzinga’s questions.
That approach insulates Joby from supply chain shocks while building intellectual property that others must license or buy. Add Toyota's manufacturing muscle, plus partnerships with Delta Air Lines Inc (NYSE:DAL) and Uber Technologies Inc (NYSE:UBER) for passenger demand, and Joby claims its model is hard to beat – especially as scale becomes the ultimate differentiator.
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Proving It In The Skies
Joby's pitch isn't just on paper. The company has racked up "over 40,000 miles of flight testing across its fleet, with nearly 600 flights in 2025 alone."
Tests have ranged from New York to Dubai, including a public airport-to-airport flight integrated with commercial traffic—a first for an eVTOL. Regulators are taking notice: Joby is already in the fourth of five FAA certification stages, putting it ahead of many peers and closer to revenue-generating operations.
Investors chasing the next mobility wave are spoiled for choice. But Joby bets that rivals will face turbulence without its integrated model.
If that's true, the vertical edge could become not just a moat—but a valuation floor.
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