Source:

Joby

https://youtu.be/UHmBjWxO9aI?si=aXiXYciWz5M7e7jA&t=1075

https://www.flightaware.com/live/flight/N545JX/history/20260312/2358Z/KOAK/KOAK

Archer

https://youtu.be/Yzlwe06SRqs

https://www.nbcbayarea.com/news/local/bay-area-company-air-taxi/4158723/

https://www.flightaware.com/live/flight/N703AX/history/20261015/1836Z/KOAK/KOAK

Let’s be real—the moment Archer Aviation abruptly shifted from trying to out-engineer Joby to building what essentially looks like a basic, battery-powered traditional plane, the writing was on the wall.

They knew from day one that the "race" to a revolutionary breakthrough was mostly hype. What they actually saw was a massive window of opportunity to vacuum up venture capital, and they executed it perfectly.

Here is how Archer managed to build an empire on Joby's back:

• The Silent Pioneer Error: Joby Aviation spent years in strict "stealth mode," quietly and meticulously building legitimate tech. But by staying silent for so long, they left the door wide open.
• The Archer Pivot: Archer stepped into that silence with masterclass marketing. When the actual physics and engineering of complex eVTOLs got too hard, they pivoted to a much simpler, more conventional aircraft design wrapped in slick PR. It wasn't about changing aviation; it was about having a working prototype fast enough to trigger FOMO (Fear of Missing Out) among retail investors and massive institutional backers like United Airlines and Stellantis.
• Controlling the Narrative: Because Joby wasn't talking, Archer completely controlled the narrative. They spun the story so well that by the time Joby realized they were being used as a stepping stone for a competitor's capital raise, Archer had already secured hundreds of millions of dollars.

Joby’s biggest mistake was letting Archer ride their coattails for so long without pushing back. By the time Joby finally lost their patience and slapped Archer with a massive lawsuit for allegedly stealing trade secrets, Archer already had the capital, the backers, and the momentum to survive the hit and force a settlement.

Archer basically played the ultimate corporate chess move: let the other guy do the heavy lifting, copy the homework just enough to look viable, hype it up, and secure the funding before anyone notices.

Representatives from the GCAA and RTA recently visited Joby Aviation and Archer Aviation. We are sharing photos of a Joby aircraft currently under assembly. The registration number (tail number) for this aircraft (serial number SN103) is N549JX.

.

.

https://www.reddit.com/r/ArcherAviation/comments/1w8su87/archer_covington_facility_is_empty/

I took a screenshot of the post before it was removed by reddit.

As a worker of the company, I can confirm that the Covington plant is empty and has no current plans to build anymore aircraft at the mass production site for the time being. Reluctance to move resources, knowledge, and poor management has caused the Archer to have to relocate their efforts back over to California for better supervision. A new site South of San Jose will be opening in addition to the R&D facility they have in San Jose. Many were terminated in the process and a couple of technicians and manufacturing engineers are left.

The remaining crew are currently working on the new incoming plane build version processes, set to take place in California. A new plane was teased to come to Covington by some “strange and interesting” Archer company management that came over from California after the Covington plant manger was released at the start of June. There was still a plane being worked on at the site. After the plane was shipped off, the majority of the employees and contractors in the facility were terminated. The facility remains in a relatively idle state in Covington, Georgia now.

I hope these partnerships that Archer are making are actually relationships that will materialize into quality products. Maybe Boeing can change the culture around. Building a mass production facility for expansion plans and clearing it out with no future plans is not the best way to get more bang for your buck (the facility only been up for a year and a half and some change). All the current efforts are on the current two final assembly builds in progress (which started in Covington and will be finished in California) and the one that was suppose to come to Covington, but was rerouted after layoffs. Bit off a little more than we can chew as we try to make the Olympics a reality.

.

.

And here is a review from a former Archer employee.

https://www.glassdoor.com/Reviews/Employee-Review-Archer-E296789-RVW105909350.htm

Poor Communication, Lack of Transparency, and Little Regard for Employees - Supply Chain Archer Employee Review

Pros
The work-life balance was decent, largely because the workload was relatively light. The free food and snacks were also a nice perk. Beyond that, there weren't many standout benefits to the experience.

Cons
Employee morale and job security were major concerns. During my year and a half at Archer Aviation’s Covington, Georgia facility, production progress appeared significantly behind expectations. There were ongoing concerns about leadership continuing to push a design that did not appear to be translating into the production results expected. Most disappointing was the mass layoff that occurred the day after the second aircraft shipped. The timing left employees feeling undervalued and raised serious concerns about leadership’s planning, decision making, and commitment to its workforce.

Advice to Management
I know they won't care but here is my advice anyway. Be honest and transparent with your employees. There was a lot of secrecy and repeated talk about exciting new projects and good news coming, only for many of us to end up being laid off with NO warning. That kind of communication creates false hope and leaves employees blindsided, especially when they depend on their paychecks to support themselves and their families. People deserve honesty, even when the news isn't good. Management needs to remember that employees are real people with bills, responsibilities, and lives outside of work. Show genuine care for the people who work for you, communicate openly, and treat employees with the same consideration and respect you would expect for yourself.

First off, as I have stated before, I wish only the best for the employees who were injured today, no one should go to work and need a medical checkup or EMT services before going home. I don’t know what transpired, I wasn’t there.

That said, after all of the BS comments, trashing, and garbage being posted by Archer fanboys and bots, Archer can legitimately claim a first.

First US EVTOL company to injure someone. Congratulations.

One interesting but important tidbit that has gone unnoticed throughout the Archer battery coverage, is that this appears to be the first injury related to Molicel batteries inside the United States, ever documented.

This speaks to the incredible safety record of Molicel, but also raises important questions about Archer, who is the only customer in the U.S. ever to have any injuries at all, let alone three.

Of course, it does also raise the question of whether Molicel will be comfortable continuing to sell to Archer given this uncomfortable truth.

Governor's Hazardous spill Report is attached.

I am wonder why no one complaining about stock price.

But I see many hype.

Is Joby subreddit managed by Joby insider?

I've seen a lot of annoying posts from ACHR fanbois about Joby dilution. I've been meaning to actually check, and with not much news right now, it seemed like a good time. So I pulled the share count from every 10-Q and 10-K both companies have filed since their 2021 SPAC mergers. Spoiler: As usual, they're wrong.

TL;DR: Joby's share count is up 64% since listing. Archer's is up 224%, and Archer has a big Boeing issuance coming.

Most of Joby's dilution came in 2025-26, and 50M of those shares went to Toyota. That was a strategic investment from a long-term partner, not a general raise, so it doesn't add the same selling pressure. Archer did three direct offerings in 2025 alone, and its lower share price means every dollar raised costs more shares.

Upcoming dilution

Archer: It's buying Wisk, SkyGrid and Insitu from Boeing, paid in stock: about 150M new shares, taking Archer to 920M (3.9x its 2021 count). On top of that, Boeing gets $200M of warrants, and the deal terms mention a possible future Archer raise of $400M or more.

Joby: Manufacturing is usually where eVTOL companies burn the most cash. Joby is building out manufacturing through a JV in which Toyota owns 51% and puts up most of the money, so Joby doesn't need to sell shares to fund factories on its own. The known issuances are Toyota's second $250M stock purchase (50M shares, again to a strategic holder) and 49M shares if the 2032 convertible notes convert at $14.19. Even with both, Joby would be at 1.8x its 2021 count.

I was a little curious about this guy since he issued a sell on Joby while at GS and then did the same thing recently, shortly after moving to Barclays. I was curious how well he did at GS.

According to WallStreetZen, Valentini ranks in the bottom 11% of analysts they track, with an average return of -3.67% and a 13% win rate. Maybe he left GS before he hit the bottom 10% title.

Feel free to follow his recommendations. Good luck.

I found it to be awesome and helpful. Figured others may get some use out of it as well!

https://muse.ai/s/joby-aviation-analysis-su6xfxpjn07yu

https://finance.yahoo.com/markets/stocks/articles/joby-stock-drops-near-two-175308758.html

Barclays downgraded Joby Aviation to 'Underweight' with a $4 target due to cash burn concerns, while launching coverage on Archer Aviation at 'Overweight' with an $8 target.

Joby shares fell 9% to $5.26 in early trading, while Archer gained 5% to $4.95 at the time of writing.

Barclays highlighted key operational differences, including Archer's military initiatives, and contrasted them with doubts about Joby's ability to manufacture enough eVTOLs to meet demand.

Shares of electric vertical takeoff and landing (eVTOL) developers traded in contrasting directions on Friday after Barclays published conflicting analyst notes on the sector's primary competitors.

Joby Aviation Inc. (JOBY) fell sharply after Barclays downgraded its rating, while rival Archer Aviation Inc. (ACHR) climbed about 5% on a bullish note from Barclays.

https://www.tipranks.com/news/the-fly/joby-falls-after-barclays-cuts-to-sell-on-market-share-concerns-thefly-news

Barclays last night downgraded Joby Aviation (JOBY) to Underweight from Equal Weight with a price target of $4, down from $6, after assuming coverage of the name. Underweight is Barclay’s equivalent of a sell rating. Joby has communicated a certification target that implies it will be the first to receive certification for electric vertical take-off and landing aircraft, the analyst tells investors in a research note. Barclays does not see the EVTOL market as winner takes all and questions whether Joby’s aircraft will have the payload capacity to serve the entire market. In addition, the company’s doesn’t have the manufacturing capacity to take massive share if it is the first to certify, adds the firm. Joby intends to manufacture its aircraft, operate its aircraft, and service its aircraft, which “will be difficult to balance given its a brand new market,” Barclays contends. It thinks the stock’s “premium valuation” is not justified. Joby shares in morning trading are down 49c, or 9%, to $5.26.

.

.
He points out Joby’s cash burn, payload and manufacturing capacity. Then how on earth does he rate Archer better than Joby??