Joby will receive $75 million and the Uber Elevate business as part of the deal.
Uber Technologies has confirmed the offloading of its flying taxi business Uber Elevate to US aerospace startup Joby Aviation. As part of the deal, Uber will invest a further $75 million into Joby. This investment comes in addition to a previously undisclosed $50 million investment made as part of Joby’s Series C financing round in January. «Advanced air mobility has the potential to be exponentially positive for the environment and future generations,» Uber CEO Dara Khosrowshahi said. «This deal allows us to deepen our partnership with Joby, the clear leader in this field, to accelerate the path to market for these technologies.» The companies will expand their partnership as part of the deal, which will see the integration of their respective services into each other’s apps, thereby «enabling seamless integration between ground and air travel for future customers».
