If joby is only planning on 25 units annually how long before they fulfill their orders? When do they go into higher volume production

Joby's current production capacity and order backlog indicate that they are well-positioned for rapid growth, but it's important to consider the timeline for fulfilling their orders and transitioning to higher-volume production:

1. Current Production Capacity: Joby's expanded manufacturing facility in California is designed to support a target production rate of 25 aircraft per year.
2. Order Backlog: With a total firm order backlog of $17.4 billion as of March 31, 2024, Joby has a substantial number of orders to fulfill.
3. Fulfillment Timeline: Given a production rate of 25 aircraft per year, it would take Joby approximately 4 years (based on 25 x 4 = 100, which is roughly the number of years it would take to fulfill the backlog at this rate) to fulfill its current order backlog.
4. Higher Volume Production: Joby's new facility in Dayton, Ohio, is expected to produce up to 500 aircraft annually, which is significantly higher than the current production rate. This expansion is a clear indication that Joby is planning for higher-volume production in the future.
5. Strategic Investments and Partnerships: Toyota's additional investment of $500 million in Joby will support certification and commercial production, which is a clear sign that Joby is moving towards higher-volume production. Toyota's investment and the establishment of a strategic manufacturing alliance between the two companies suggest a shared vision for scaling up production.
6. Certification and Regulatory Hurdles: Joby has made significant progress in certification, with over one-third of the fourth stage complete. Clearing the remaining hurdles in certification and scaling up production should position Joby for higher-volume production in the near future.

In summary, while Joby's current production capacity is 25 aircraft per year, their strategic investments, expanded facilities, and significant order backlog suggest a clear trajectory towards higher-volume production. Fulfilling the current order backlog at the current rate would take approximately 4 years, but Joby's expansion plans and investments indicate a strong potential for rapid growth and increased production capacity in the coming years.