Joby Aviation’s shares dropped 6.95% to $8.51 on Wednesday, part of a broader slide for electric vertical takeoff and landing stocks. Archer Aviation fell 4.79% to $5.77. Investors eyed a fresh warning signal from across the Pacific. A Chinese upstart named AutoFlight had flown what it calls the world’s first 5-ton class eVTOL, the Matrix V5000. This beast hauls 1.5 tons of freight. Joby and Archer chase urban air taxis with lighter, passenger-focused machines topping out at 2-3 tons and 155-mile ranges. AutoFlight’s machine changes the equation. Freight. Not pampered riders in four-seat pods. Picture direct hops from factory to warehouse, skipping trucks mired in traffic or convoluted helicopter relays. Helicopters can’t match this payload. Costs plummet. AutoFlight claims operating expenses one-tenth those of rotors. The all-electric version matches Joby’s range at 155 miles. A hybrid pushes 930 miles. Passenger variant? Up to 10 seats in the works.…