Shares of Joby Aviation, Inc. (JOBY), a developer of electric vertical take-off and landing aircraft, are rising more than 7% Monday morning at $6.72.
The company today said it has delivered its first aircraft to Edwards Air Force base about six months ahead of time.
This delivery , which is the first electric air taxi delivered to the U.S. Air Force, is part of the company's $131 million contract with the Department of Defense.
In partnership with the U.S. Air Force, NASA will also use the aircraft for research focused on how these aircraft could fit into the national airspace, benefiting the entire air taxi industry, Joby said.
JOBY has traded in the range of $3.15 - $11.98 in the last 1 year.
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